13 March 2013
Hi, I read the process of transfer of shares but 1 thing that was not clear that is whether we need to file any form to ROC? Also is there a time limit to get the form stamped by notary? We have done franking.
13 March 2013
Thank u ajay but still my questions remain unanswered: 1. Do we need to file any form to ROC? 2. We have done the franking. But is there a due date to get the form attested?
13 March 2013
Validity of transfer deed In the case of shares dealt in or quoted on a recognised stock exchange, at any time before the date on which the register of members is closed, in accordance with law, for the first time after the date of the presentation of the prescribed form to the prescribed authority under clause (a) of section 108(1A) or within twelve months from the date of such presentation, whichever is later. In any other case, within two months from the date of such presentation.
When your Form-7B(Transfer Form)stamped by ROC or other authority with date , then such transfer deed is presented with in time. It means with in 2 months for unlisted company. Then no need to file application for extention of validity.
13 March 2013
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.