Share Transfer

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Guest

Guest (Querist)

23 August 2010 A pvt.company have 6 shareholders,out of 6,4 shareholders transfer their shares to remaining 2 shareholders.Now Pvt company have only 2 share holders.

Q1-what will be procedure to make effective this transfer in case of Pvt company?

Q2-Whether company will pass any resolution for this transfer?

Q3-what will be ROC Procedure in case of Pvt Comapny for This Transfe?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 August 2010 1.Form 7 B has to be executed by the transferor and transferee.
2)Company has to pass a board resolution subject to the conditions in the Articles of Association of the company.
3)No procedure between company and ROC. However, particulars of the transfer has to be disclosed in Schedule v, part 11 (annual return to be attached with e-form 20B)filed after the transfer.

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Guest

Guest (Querist)

24 August 2010 if AOA is silent about share transfer,then also it is necessary to pass a board resolution?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 August 2010 Board resolution is a must. If the AOA is silent about the matter, then regulations 19 to 24 of Table A of the Companies Act,1956 has to be followed.

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