Inter se transfer of lock in shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 October 2012
Dear Experts,
During the period of lock in shares of promoters and promoters group be transferred or Not?
Plz clarify and guide me.
Regards
Nidhi Agarwal
Company Secretary
During the period of lock in shares of promoters and promoters group be transferred or Not?
Plz clarify and guide me.
Regards
Nidhi Agarwal
Company Secretary
CS Amit Kumar
(Expert)
26 October 2012
Dear Nidhi,
As per SEBI ICDR-2009, Shares of promoters which are in lockin period can't be Trnasferred.
However it can be Transferred to Following persons Subject to following conditions.
(Reg-40)..... Subject to the provisions of Securities and Exchange Board of India (Substantial Acquisition of shares and Takeovers) Regulations, 2011, the specified securities held by promoters and locked-in as per regulation 36 may be transferred to another promoter or any person of the promoter group or a new promoter or a person in control of the issuer and the specified securities held by persons other than promoters and locked-in as per regulation 37 may be transferred to any other person holding the specified securities which are locked-in along with the securities proposed to be
transferred:
Provided that lock-in on such specified securities shall continue for the remaining period with the transferee and such transferee shall not be eligible to transfer them till the lock-in period stipulated in these regulations has expired.
Regards,
Amit Kumar
As per SEBI ICDR-2009, Shares of promoters which are in lockin period can't be Trnasferred.
However it can be Transferred to Following persons Subject to following conditions.
(Reg-40)..... Subject to the provisions of Securities and Exchange Board of India (Substantial Acquisition of shares and Takeovers) Regulations, 2011, the specified securities held by promoters and locked-in as per regulation 36 may be transferred to another promoter or any person of the promoter group or a new promoter or a person in control of the issuer and the specified securities held by persons other than promoters and locked-in as per regulation 37 may be transferred to any other person holding the specified securities which are locked-in along with the securities proposed to be
transferred:
Provided that lock-in on such specified securities shall continue for the remaining period with the transferee and such transferee shall not be eligible to transfer them till the lock-in period stipulated in these regulations has expired.
Regards,
Amit Kumar
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Form 144 TDS Return Validation Error – Mandatory Fields
- Gift to nri relatives residing in usa
- Capital gains in IT returns
- Advances to related party
- GSTR9 Annual Return
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
