Gift-deed
This query is : Resolved
ARUN KUMAR MAITRA
(Querist)
28 February 2017
One company named XYZ Ltd. desires to transfer its investment in another company named ABC Ltd. to PQR Ltd. through execution of a Gift-Deed.
Now my query is as under:
Is it necessary to register a gift-deed for transfer of shares from one company another company?
Now my query is as under:
Is it necessary to register a gift-deed for transfer of shares from one company another company?
Sandeep Dharar
(Expert)
28 February 2017
Yes registration is mandatory in that case
ARUN KUMAR MAITRA
(Querist)
28 February 2017
For the purpose of making a gift of movable property, the transfer may be effected either by a registered instrument signed or by delivery.
Such delivery may be made in the same way as goods sold may be delivered vide section 123 of the Transfer of Property Act.
In view of the above,gift of shares may be made through registration only because you are transferring them through execution of a Gift Deed.
Such delivery may be made in the same way as goods sold may be delivered vide section 123 of the Transfer of Property Act.
In view of the above,gift of shares may be made through registration only because you are transferring them through execution of a Gift Deed.
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