Transfer of shares from one director to another ?
CA Abhishek Singh (practice) (2105 Points)
23 June 2012
CA Abhishek Singh (practice) (2105 Points)
23 June 2012
vaibhav
(CA & CS)
(577 Points)
Replied 23 June 2012
Hi Abhishek,
Pls note directos can never trasfer or sale the shares this power is always with the shareholders therefore X and Y cannot sold the shares of shareholders.
i guess in your case directors and shareholders are same in that case you can fill the form 7B for share tranfer.
SkDash
(CS (Member) CWA (Final))
(909 Points)
Replied 23 June 2012
Hope X & R were the shareholders of the co, if so
1- Transfer the shares from X & R to the name of A & B and get the same approved by BM with X & R (hope it is a pvt co)
2. Hold EGM with A & B as shareholders and let A & B appoint A & B as directors of the Company
3. Let X & R resign from Directorship
Hi,
Visit this link for the procedure of share transfer :
/articles/transfer-of-shares-procedural-analysis-4692.asp#.T-WBNBdRL5s
Regards
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