07 November 2012
Facts: A new director is to be appointed to the board of a pvt. co. who is not holding any shares of the co., now the said proposed director is allotted share through transfer of shares by existing shareholders, and consequently to be appointed as director.
Query : (1) What Secretarial jobs are involved in this process? (2)What are the forms that needs to be filed with the ROC?
Procedure in case of transfer of shares to Proposed Director:
1. Sign Transfer Deed by Director and Transferor 2. Submit the following documents with Company: a. Original Share Certificate b. Transfer Deed properly executed and stamped. c. Copy of PAN of Director
The Company after receiving the above document call a Board meeting for registering the transfer. After registering the company will handover the original share certificate after filling the details of proposed director in share certificate.
The company will thereafter make the entry in Register of member and Register of Transfer.
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