Selling the shares by a director
This query is : Resolved
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?
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?
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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