Regarding tranfer of shares
2) if yes then in what is the time limits for the same?
3) when we prepare for minutes it is compulsory to held board meeting in case of private limited company & limited company?
Procedure for transfer of shares:
Generally articles contain the details provisions as regards the procedure for transfer of share. Usually following steps shall be followed by a private company to give effect to the transfer of shares:
a) Transferor should give notice in writing for his/her intention to transfer his/her share to the company.
b) The company in turn should notify to the members as regards the availability of shares and the price at which such share should be available to them.
c) Such price is generally determined by the director or the auditors of the company.
d) The company should also intimate to the members, the time limit with in which they should communicate their option to purchase shares on transfer.
Form-7B validity is only two months from the date mentioned in such Form. So between that period shuch transfer should be take effect.
In case of limited company is board approval is necessary..
Please mention the provisions regarding both type companies..
In private company two board meeting is required one is before transfer and second is for registering transfer in to transfer book.
In public company only one board meeting is required for registering of transfer if all document of transfer is complete.
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