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Selling the shares by a director

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(Querist)
31 December 2024 An individual is a major shareholder and director of a company with two divisions – a hospitality business and a share broking division, both officially registered. The individual also holds shares in various listed companies.

The question is: Can this individual sell shares of one of the listed companies (that he personally owns) to his own company, specifically through the share broking division?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 January 2025 yes. he can definitely do so. Since this is a related party transaction and that he is an interested party, due process should be followed for BOD approval before the purchase.
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