company law
This query is : Resolved
03 October 2010
CAN ANYONE EXPLAIN SECTION 206A OF COMPANIES ACT
06 October 2010
Dear Mr. Nikhil
Section 206A deal with the right of shares held in abeyance. It means the ownership of such right is yet to be decide.
This situation arise when a shareholder transfer their share to any one and such shares are pending for transfer and during this tenure any dividend, right shares and bonus are issued by the company, in that situation such shares are hold in abeyance until the transfer will take effect and transfer is registered in the register of member of the company.
Regards
Section 206A deal with the right of shares held in abeyance. It means the ownership of such right is yet to be decide.
This situation arise when a shareholder transfer their share to any one and such shares are pending for transfer and during this tenure any dividend, right shares and bonus are issued by the company, in that situation such shares are hold in abeyance until the transfer will take effect and transfer is registered in the register of member of the company.
Regards
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