dear sir/madam,
I have a doubt regarding transfer of shares if the shares were held on beneficial interest and the related forms are filed with registrar in MGT-6 by the company, now the registered owners want to transfer the shares with approval of beneficial owners then what is the procedure and what forms required to file with registrar
Suppose Mr. X is the registered owner of the 500 shares of ABC Private Limited whose benificial owner is xyz pvt. limited. Means XYZ is the holding Company of ABC Private limited and to comply with the requirement of minimum no of shareholders of the Private Company, Mr. X is being appointed as the registered owner, XYZ, is being the benificial owner and ABC Private Limited is the Company. In such a scaneriao, Mr. X will have to give the declaration in Form MGT 4, XYZ Private Limited has to give declaration in MGT 5 and ABC private Limited will file form MGT 6 along with the proof of identity of both the registered and benificial owner and along with signed copies of MGT 4 and MGT 5.
Now question comes,that if the registered owner transfers the shares to the another registered owner, then there is no need to file any MGT 6. There is only require to file MGT 4, MGT 5, MGT 6 only when there is change in the benificial interest in the share. As the benificial interest in the shares remains the same, only there is change in resgistered shareholding, then Shareholders has to execute Form SH 4 signed by both transfree and transferor . Hold the Board meeting and pass the Board resolution for transfer of shares. The letter needs to be signed by the transferor signifying his intention to transfer the shares.
Pay the stamp duty @ 0.25 percent on the instrument of Share transfer deed
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