Regarding tranfer of shares
This query is : Open
Pratham Gupta
(Querist)
04 December 2012
1) whether board meeting is required in private limited company & limited company in case of transfer 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?
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?
Ajay Mishra
(Expert)
04 December 2012
Hi
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.
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.
Ajay Mishra
(Expert)
04 December 2012
Hi
Form-7B validity is only two months from the date mentioned in such Form. So between that period shuch transfer should be take effect.
Form-7B validity is only two months from the date mentioned in such Form. So between that period shuch transfer should be take effect.
CS Ankur Srivastava
(Expert)
04 December 2012
Yes, you need to hold Board Meeting, as the transfer must be noted in the Board Meeting.
Pratham Gupta
(Querist)
04 December 2012
Sir my question is that when we should hold board meeting..Is it before or after the date, which we are mentioned in form -7B for the purpose of preparing Board Meeting Minutes.
In case of limited company is board approval is necessary..
Please mention the provisions regarding both type companies..
In case of limited company is board approval is necessary..
Please mention the provisions regarding both type companies..
Ajay Mishra
(Expert)
05 December 2012
Hi
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.
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.
Pratham Gupta
(Querist)
05 December 2012
Sir thanks for your valuable advice please provide me two type resolution in case of private company for preparing minutes `and one type resolution in case of public limited company for same purpose.
Pratham Gupta
(Querist)
05 December 2012
Sir please guide me. I have urgent
Pratham Gupta
(Querist)
05 December 2012
sir, please guide me i have urgent.
Ajay Mishra
(Expert)
05 December 2012
send ur email id for the same.
Pratham Gupta
(Querist)
05 December 2012
prathamg1@gmail.com
Ajay Mishra
(Expert)
05 December 2012
I think, u got the same.
Pratham Gupta
(Querist)
06 December 2012
Sir i got but you told me in case of private company two resolution is necessary but it is only one resolution....and in case of public company i have no any resolution.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
