CS Rajveer Rai, Gurgaon
(CS)
(646 Points)
Replied 18 January 2012
Further the period of two months of refusal given by the company is further explained in Ramiya that if company doesnt register or give reason for refusal of shares within 2 months of lodgement of transfer THEN the company will loose the right to refuse the registration of transfer.
nidhigoel89
(Company Secretary )
(594 Points)
Replied 19 January 2012
Dear Members,
Thanks for the time and contribution to my query!
I found out answer of my query which is stated in sec 113 of Companies Act, 1956. Its stated that company need to register the transfer within 2 months from the date when documets are received by company from Transferor/Transferee.
Irrespective of the fact that transfer deed's validity is expired after receiving of documents. What matter is that within the time frame the documents is delivered to company.
Thanks!
Nidhi
Company has to register within 2 months of receipt of valid transfer documents or refuse with reason. However it may be that validity of transfer deed might have expired before approval of transfer.
It follows that transfer should be registered with the period of 2 months irrespective of the fact whether transfer deed are expired or not.
Expiry of transfer deed is material only upto the date of execution of deeds by transferor or transferee. Transferee may lodge deed/documents for transfer of shares even after a decade with the company.
Thanks
ars
(CS)
(445 Points)
Replied 19 January 2012
Ms. Neha,
Could u pl. check again on Expiry of transfer deed is material only upto the date of execution of deeds by transferor or transferee. Transferee may lodge deed/documents for transfer of shares even after a decade with the company.
and why do the extension of date of transfer deed is required ?
CAclubindia
