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(Querist)
19 March 2010 We have one private limited company.and is gone on BIFR and decision is not given by BIFR.And in this co. my father is guarantor and he expired 12 years ago. And this co. my mother is shareholder.and she expired one years ago.can i transfer these shares on my name? responsibility can come on me?
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Rasesh

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Rasesh (Expert)
19 March 2010 If the shares are fully paid up, then transfer the shares in your name.

As regards the guarantee given by your father, the guarantee must be for a specific purpose and personal in nature, which cannot be transferred to your name. Hence, you will not have any liability due to it.
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