Dear All,
In respect to transfer of shares of a closely held public limited company, the franking of transfer forms of the qualification shares of directors was done after 3 months from the date of transfer. In this case the date of transfer is to be considered as the date of transfer or the date of franking? If it is date of the date of franking, will the directors be held liable for not acquiring qualification shares within the time period per the Act and AOA (the maximum time limit is 2 months to acquire qualification shares)?
Regards.
Dhruv Gaglani
CAclubindia
