Private company difinition

This query is : Resolved 

10 October 2013 As New Difinition of Private Compnay Section 2(68) of Comapnay law 2013,

There shall be restriction on transfer of share?

Means shareholders cant be changed?

once alloted to a persion, it shall continue with him?

Is it correct?

10 October 2013 Hi

This line is same as given in private company definition as given under section 3(1)(iii) of the Companies Act, 1956.


So in New CA, 2013 there is no changes in transfer provision. Yes shareholder will first intimate to the company for transfer of shares.


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