relating to transfer of shares
This query is : Resolved
Ankit Gupta
(Querist)
02 April 2010
if a co. had transfrred its shares 10 years ago but the transfree had not yet registered in its name. now,the tranferor co. has received bonus shares against the shares which had already been sold.. can the transferor claims its own shares?? what is the accounting treatment for these bonus shares???????? plz tell as per companies act?????
Ankur Garg
(Expert)
02 April 2010
As per specific relief act claim of the transferee is time barred now as shares are not yet registered in his name.
So the transferor is still the members as per the register of member of the issuer company and accordingly will be entitled to the bonus shares issued by the issuer company.
Regards
So the transferor is still the members as per the register of member of the issuer company and accordingly will be entitled to the bonus shares issued by the issuer company.
Regards
Ankit Gupta
(Querist)
06 April 2010
Thanks for your advice......
But the issue is that the company had no original shares in its books as they had already been sold, how can we disclose the bonus shares?
Can the company claim the original shares as the shares are still in the name of company in register of members?
But the issue is that the company had no original shares in its books as they had already been sold, how can we disclose the bonus shares?
Can the company claim the original shares as the shares are still in the name of company in register of members?
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