SEBI (SAST)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2010 My company is a listed company. the promoter shareholding was 72%. one of the individual promoter had died and his shares had gone to his wife, who is already into the promoter group.

The wife of the deceased promoter had transferred a portion of those shares to her daughter (minor child) and mother-in-law.

The mother-in-law is already into the promoter group holding shares. All the shares in question are in physical form.

My query is:-
1. whether to show the minor daughter under promoter group or not?
2. what should be the shareholding of the mother-in-law? whether the transferred shares be clubbed and shown under promoter quota or the transferred portion be shown separately under individual (non-promoter) group?
3. whether on such a transfer, the promoter shareholding be shown as reduced?

Please suggest and explain the law relating to this.

regards.

Rasesh

Rasesh (Expert)
Follow

23 December 2010 The sale to daughter will be within the promoter group. Please file the necessary Report under the SAST with the SEBI.

The mother-in-law' shares should be clubbed with her existing holding in promoter group.

No. There will be no change in the promoter group shareholding.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Aakash Kumar

Sivashankary Sivaramakrishnan

Sasidhar B

ASIM ATREY AND ASSOCIATES

SANJAY GOSALIA

Subscribe Now

SEBI (SAST)

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA