07 March 2011
There is a share transfer from one director to another in a private company. The procedure for giving effect to such transfer would be to to procure Form 7B, then pay 25p for every Rs. 100/- as stamp duty, get it stamped, then fill in the details, get it signed by transferor and transferee, and then submit it to the company.
Is the above procedure right or is there any other step involved.. Pls clarify. thanks,
09 March 2011
Procedure as followed by you is in order. As advised by the expert get the original share certificate and make necessary endorsement of transfer and send it to the transferee. Also make necessary entries in the Register of Members and Share Transfer Register.
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