Share transfer within a week time of agm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 September 2012 Dear Members,

Whether a pvt. company can resort to transfer some of its share within a period of 7 days of holding AGM.

Thanks in Advance

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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08 September 2012 Not a Issue Any Where.

Querist : Anonymous

Querist : Anonymous (Querist)

08 September 2012 Company need to issue a 21 days notice for holding agm. This suggests that after issuance of notice calling agm a pvt company can resort to share transfer.

Please clarify...

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CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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08 September 2012 No Need to Discuss Day to Day Share Transfer Issue in AGM.

Isnt it?
Untill There is Any Holding Transfer.

Querist : Anonymous

Querist : Anonymous (Querist)

08 September 2012 Actually share transfer involves the entire holding of a company being transferred to another company i.e. it enables a new holding company having 99.9% holding due to this transfer.

Guest

Guest (Expert)

08 September 2012 Yes, transfer of shares can be made even next day of general meeting since notice is not required to be given for board meeting of 21 days.

Guest

Guest (Expert)

08 September 2012 Board meeting can be held even by giving 1 hr notice.

Querist : Anonymous

Querist : Anonymous (Querist)

08 September 2012 Ok. Thanks Ayush Ji and Neha Ji.

Let me be more precise.
Just a week before the holding AGM, the shareholding of a pvt. company changed from A & B to C & D. Is there any issue in reporting C & D as shareholders in the Annual Return of the company.

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Guest

Guest (Expert)

08 September 2012 No, there are no issues since shareholding is reported in AR as on the date of AGM.

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

10 September 2012 Thanks Neha. What is the importance of the date of payment of consideration for the purchase of shares.
I presume if the shares are purchased by any investor, date of purchase will be that mentioned in the transfer date, provided the payment should have been made before the close of the financial year.
Pls guide.

Guest

Guest (Expert)

10 September 2012 Date of payment of consideration is the date when payment is made by buyer to seller. It is between transferor and transferee.