Companies act 1956 share transfer form 108 (1a)
Querist : Anonymous
Compulsory requirement of transfer deed for effecting transfer:
Section 108 provides that a company shall not register a transfer of shares of, the company, unless a proper transfer deed in Form 7B as given in the Companies (Central Government's) General Rules and Forms, 1956 duly stamped and executed by or on behalf of the transferor and by or on behalf of the transferee and specifying the name, address and occupation, if any, of the transferee, has been delivered to the company, alongwith the certificate relating to the shares, or if no such certificate is in existence, alongwith the letter of allotment of the shares:
Transfer of shares in case of loss of transfer deed:
It has been provided that where, on an application in writing made to the company by the transferee and bearing the stamp required for an instrument of transfer, it is proved to the satisfaction of the Board of directors that the Transfer Deed signed by or on behalf of the transferor and by or on behalf of the transferee has been lost, the company may register the transfer on such terms as to indemnify as the Board may think fit.
In the case of Fox v Martin (1895) 64 LJ CH 473, a registered holder of shares instructor a broker to sell them for cash and signed a blank transfer which he handed to the broker with the share certificates. The broker deposited and transfer the certificates in favour of his banker as security for an advance to himself. It was held that the banker had no title to the shares as against the registered holders.
Querist : Anonymous
No.
ROC need not require any Share Transfer Form. The only ask a list of transfer made during the year.
Querist : Anonymous
In that situation if your transfer deed is not registered within time in that case you will take extention from ROC.
Extension of validity of transfer deed:
Where the validity period of an instrument of transfer has expired, namely, the instrument is beyond 12 months from the date of presentation to the prescribed authority or from the date of book closure which ever is later in case of shares of a listed company and in other case 2 months from the date of presentation, the holder may make an application in Form 7C to the Registrar of Companies requesting for extension in the validity. The fee for such application is Rs.50 where the nominal value of the shares is upto Rs. 5,000 and the fee is Rs. 100 where the value exceeds Rs. 5000.
The application shall be made to the Registrar of Companies, where the registered office of the Company is situated or under whose jurisdiction the transferor or transferee resides. The Registrar on satisfaction of the cause shown in the application shall extend the validity for a period of 30 days from the date of approval by the Registrar. It should be noted that further extension will not be provided by the Registrar. Therefore, the transfer deed should be lodged with the company within the extended period only.
Querist : Anonymous
Querist : Anonymous
I and my wife were directors and share holders of a Pvt. Ltd. Company bearing around 50% total paid up share capital at times. Now in year 2005 I and my wife have resigned from the company and necessary share selling transactions are made. But in this year 2012 the company’s authority have sent us above form and a letter mentioning that our shares have been presented before company for transfer to another share holder of the company. I am querying all these because the form I received is half filled and they have only put up my and my wife’s name for sign to. It looks weird to me.
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