Notice of transfer of shares of Private Limited

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Amit (Querist)
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03 August 2009 Dear All,
Please tell me what will be the draft of the notice to be issued by the transferer director to a private ltd company. when he is willing to transfer his shares to another individual

Regards
Amit Jadhav

Ankur Garg

Ankur Garg (Expert)
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03 August 2009 Hi,

Please explain your query a bit. However find below the procedure for transfer of share in the Private Company:

First check your AOA provisions regarding transfer of share.

Procedure

1. Transferor --- give notice --- to the Company --- for his intention to transfer.

2. Company in turn --- notify to other member --- regarding availability of share and price at which such share would be available.

3. Such price --- generally determined by auditor/directors of the company.

4. Company --- also communicate to member --- time limit --- for option to purchase shares.

5. if nobody comed forward --- then share may be transfered to outsider --- in such case company have to accept the transfer.

Note: transfer to outsider without following AOA procedure will not be operative against the company and transfer to an outsider was held not to be effective.

Best Regards

Ankur Garg

Ankur Garg (Expert)
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03 August 2009 To download the board meeting minutes for regarding transfer of share click the link below:

Minutes for transfer of share

https://www.caclubindia.com/share_files/files_display.asp?files_id=13193

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Amit

Amit (Querist)
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03 August 2009 Dear Ankur

following are the details,

We have incorporated one steel company in Pune.
The shareholing in this company is as follows
a) Mr. soo man choi is holding 9999 shares of rs. 10 each
b) Mr. B.K. cho is holding 1 share.

Now we want to appoint a director who is not in India and will just visit for this R.O.C. work.
His shareholding will be 9998 shares i.e. Mr. Soo Man choi will transfer his all except 1 shares.

what should we do what kind of Board resolutions need to be passed, what king of notice should be issued by transfering shareholder, and which documents need to be filed with R.O.C.

Regards
Amit Jadhav
Pune

Ankur Garg

Ankur Garg (Expert)
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03 August 2009 Your case is simple case of transfer of share.

In that case no notice is required. Simple hold a BM and pass resoltion for transfer.

Agenda of BM would be:

1. split of share.
2. transfer of share.

Download the minutes from the link mentioned above. It covers the same topic.

Regards

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