CS Kaushik Kundu (Company Secretary) (180 Points)
18 November 2011A person holding physical share certificate of a listed company. He wants to transfer his entire shareholding to his son by way of gift. Any one please suggest me the procedure of transfer of physical shares by way of gift.
Charu Srivastava
(Company Secretary)
(4210 Points)
Replied 18 November 2011
For the purpose of making a gift of moveable property, the transfer may be effected either by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses. or by delivery.
Movable property includes Shares.
As it is a listed Company , transfer of share by gift should be effected through registered Gift Deed.
Other views are solicited.
CA GOVIND KRISHNA AGARWAL
(CA)
(202 Points)
Replied 18 November 2011
Transfer of registered shares
(1) Subject to section 71, registered shares are transferred by a written instrument of transfer
signed by the transferor and containing the name and address of the transferee.
(2) The instrument of transfer shall also be signed by the transferee if registration as a holder
of the share imposes a liability to the company on the transferee.
(3) The instrument of transfer of a registered share shall be sent to the company for
registration.
(4) Subject to the memorandum or articles and section 67, the company shall, on receipt of
an instrument of transfer, enter the name of the transferee of the share in the register of members
unless the directors resolve to refuse or delay the registration of the transfer for reasons that shall
be specified in the resolution.
ALLAVARAIAH
(Accounts)
(78 Points)
Replied 19 November 2011
Hi
Proprietor Ship Name Registration Chesukovalante emi Cheyali
Rajeev kumar Nayak
(ACS)
(283 Points)
Replied 19 November 2011
For the transfer of shares from father to son, a gift deed is required be executed.
Executed gift deed along with share transfer form duly affixed stamp duty and share certificate required to be deposited at COmpany/RTA office for effecting transfer.
Thanks & Regards
Cs Rajeev Nayak
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