valuation of shares

Dear SSJ,

according to your situation i dont think there was any agreement exist between two.

if not then check your AOA, is there any article exist regarding transfer of shares or valuation of shares, if  not then make arrangment with the mutual consent of both parties but according to the Articles of the company.

Dear SSJ,

As aman said, you can mutually decide the price of the shares considering Articles.

Care should be taken 

1. If you transfer the shares to Foreigners/NRI( In this situation you need to get valuation done by a CA and reported to RBI)

2. One more thing is since only Two members are there in your Co, the shares (at least few) to be transferred to a person other than the existing share holder.

agreed wid osman akthar..