Thanks Mr Ankur...just wanted to confirm one thing more...do we need to take Central Government approval for the transfer of shares by a body corporate holding more than 51% shares in a company.
meena gupta (CS) (32 Points)
04 June 2013Thanks Mr Ankur...just wanted to confirm one thing more...do we need to take Central Government approval for the transfer of shares by a body corporate holding more than 51% shares in a company.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 06 June 2013
This is your new post and I am not aware of the background of your query replied by Mr Ankur. There is no restriction as such for transfer of shares by a company holding more than 51% capital in the company.
If you are referring to restrictions contained in Sections 108A 108I, pl note that these provisions are applicable to companies covered under MRTP Act only (Refer Sec.108H).
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