08 November 2011
Querry related to investment in certain Company.
A. if X Company invest in Certain Companies Shares and those Company was delisted from the stock exchange shares are in the demat form now the X Company wants to sell these shares in the off market can sell these shares in the off Market or not please advice and at what rate or Section 56 will be applicable for showing inadequate consideration.
09 November 2011
In this situation you may contact the company and get an offer letter from it at which price it wants to buy back. . If it is sold through off market transactions, then fair value may be ascertained from the merchant bankers who had worked for the company. . Leave the issue of Section 56 on buyer as it will affect him and not to your company.
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