can anybody tell me the step-wise whole procedure for transfer of shares in case of private company from one member to another?
Mamta Batra (CS) (376 Points)
04 July 2009can anybody tell me the step-wise whole procedure for transfer of shares in case of private company from one member to another?
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 04 July 2009
Hi,
First check your AOA provisions regarding transfer of share.
Procedure
1. Transferor --- give notice --- to the Company --- for his intention to transfer.
2. Company in turn --- notify to other member --- regarding availability of share and price at which such share would be available.
3. Such price --- generally determined by auditor/directors of the company.
4. Company --- also communicate to member --- time limit --- for option to purchase shares.
5. if nobody comed forward --- then share may be transfered to outsider --- in such case company have to accept the transfer.
Note: transfer to outsider without following AOA procedure will not be operative against the company and transfer to an outsider was held not to be effective.
Best Regards
Mamta Batra
(CS)
(376 Points)
Replied 04 July 2009
in my case one member of the company is interested to purchase the shares of another member. I want to know the procedure to get them registered? Stamping on Trasfer Deed etc.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
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