Rajendra Prasad Gangula CA
Quick Summary
Generally, a private company is guided by its Article of Association. As per Section 2(68) of the Companies Act 2013, a Private Company restricts the transfer of its shares and prohibits invitation to the public to subscribe to any securities of the Company. Transfer of Shares As per Section 5
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FAQ :
The primary document is an instrument of transfer, executed in Form SH-4 as per Rule 11 of the Companies Act, 2013.
Once the instrument of transfer is received, the company must issue a new share certificate to the transferee within one month.
Yes, a private company can refuse to register a share transfer based on Section 58 of the Companies Act, 2013, and its Articles of Association, provided it notifies the relevant parties within 30 days with reasons for refusal.
The instrument of transfer must be duly stamped as per the Indian Stamp Act, 1899, with stamp duty paid on the market value or consideration amount, whichever is higher.
No, immediate notification to the ROC is not required. Share transfer details are submitted to the ROC as part of the company's Annual Return (Form MGT-7).
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