17 December 2009
Sec 108(1) provides that every company (public or private) shall register transfer of share on (i) Lodgement of Share transfer deed (ii) with stamp (iii) with original share certificate. Sec 108(1A) provides that transfer deed, as above, shall be presented with prescribed authority (usually RoC) before it is signed and lodged with company. Time limit is 2 months from date of presentation with RoC. Transfer deed's format is given as "Form 7B" which you can purchase from market (with RoC sign it is available @ 2-5 rupees)
As regards Mr. E (proposed director), he is required to hold qualification share only if you have provision in Article. If you dont have such provision, there is no need, if you have provision, then company can allot him share by share application and allotment (within 2 months of his appointment). For increase in capital you have to file relevant form with RoC.
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