Annual return
This query is : Resolved
Sumit Khandelwal
(Querist)
15 September 2011
Sir,
Annual return is the only way to show the effect of share transfer in private ltd company then ,
what if the company has made 2 annual return for the same year, same date of meeting and one shows "no share transfer since last AGM" and other shows "transfer details of share since last date of AGM"
Is it a forgery?
If yes then by whom by company directors or by company C.S.?
Please reply,
Annual return is the only way to show the effect of share transfer in private ltd company then ,
what if the company has made 2 annual return for the same year, same date of meeting and one shows "no share transfer since last AGM" and other shows "transfer details of share since last date of AGM"
Is it a forgery?
If yes then by whom by company directors or by company C.S.?
Please reply,
15 September 2011
Dear Sumit Khandelwal,
The effective of share transfer whether in public or private company is done through form 7B, when it physically transferred with stamp duty. This is only the authentication for the share transfer.
During the annual return i.e. Schedule V, the transfer of shares are mentioned during the last AGM. Since Schdule V only has the column about the share transfer, so the directors are required to show the transfer details in the schedule V. If there is two annual return filed for the same year, the second one which is a revised return. Thus, the second one is the correct data. Its not a forgery, it is a material misstatement. The MCA allowed us to revise the data which is entered wrongly in the annual return or report.
The effective of share transfer whether in public or private company is done through form 7B, when it physically transferred with stamp duty. This is only the authentication for the share transfer.
During the annual return i.e. Schedule V, the transfer of shares are mentioned during the last AGM. Since Schdule V only has the column about the share transfer, so the directors are required to show the transfer details in the schedule V. If there is two annual return filed for the same year, the second one which is a revised return. Thus, the second one is the correct data. Its not a forgery, it is a material misstatement. The MCA allowed us to revise the data which is entered wrongly in the annual return or report.
16 September 2011
Any mistake or revised return cannot be termed as forgery.
I agree with the expert
I agree with the expert
Sumit Khandelwal
(Querist)
16 September 2011
thank u sir
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