Koushik Dey (Tax & Financial Consultant) (74 Points)
15 February 2011Will anybody tell me the detailed procedure of transfer of shares in a private limited company, where no formal allotment is made or allotment procedure has not been observed.
CS MOHIT SALUJA
(PRACTICING CS Jalandhar 9914558709)
(5155 Points)
Replied 15 February 2011
Dear Koushik, First of all the allottment is totally different from the transfer of shares. Incase of allotment, new shares are alloted and in case of transfer of shares the shareholders who holds the shares can transfer them to other person.
The procedure is:
The transferor has to take the transfer deeds from the Stock Exchange wherein he will fill the amount of shares along with his fulll name, folio no. of share certificate and his signatures in presence of witness, will send to the transferee who will fill the columns in respect of his full name, address, occupation, and father's name and date and will sign the deed in presence of witness and signatures of wittness will also be affixed. Then this deed will be forwarded to the company. The company will then make the changes in the register and share certifcate, being surrendered by the transferor/ shareholder, the company will make changes in certificate and will issue such certificate to transferee.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
