Ours is pvt ltd Co. one shareholders wants to transfer part of his holding to three outsiders. there is no objection from existing shareholders. i would like to know about share certificates to be issued to new shareholder & existing shareholders. For eg:
A has six shares and one share certifcate he wants to transfer 3 shares out of six to three shareholders i.e each transferee gets 1 share.
Now, After endorsement of names of transferess in the backside of the share certificate, should a new certificate be issued to transferor? or the old certificate would suffice?
will the new certificates issued itransferees required to be entered in register of renewed and duplicate share certificates.?
22 April 2016
first of all main share holders has to split his share certificate e.g. one of 3 shares and rest 3 certificates of one one share. Than endorse three certificate in favour of transfree. no need to issue new certificates endorsed certificate is suffice
CAclubindia
