Cancellation of share transfer

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Pooja Varma (Querist)
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30 November 2012
HI

IF A COMPANY TRANSFERS SHARES, NOT AUTHORISED BY ITS ARTICLES, FILES IT WITH MCA IN ANNUAL RETURN, PAYS DIVIDEND, UPDATES REGISTERS AND AFTER A YEAR WANTS TO CANEL THE ABOVE TRANSFER?

1.WHAT IS THE PROCEDURE FOR SUCH CANCELLATION?
2. SHOULD THE COMPANY FILE FORM 20B AGAIN AFTER CANCELLATION?

Ajay Mishra

Ajay Mishra (Expert)
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30 November 2012 Hi

I think, it is not permissible under the Companies Act,1956. Please check what your company articles says on that matter.

The company can not cancel the transfer if it is legally registered under section 108 of the Companies Act, 1956.

Pooja Varma

Pooja Varma (Querist)
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30 November 2012 thank you sir

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