Share transfer

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samita (Querist)

03 April 2012 Hiii,

i have a query regarding date of transfer of shares.the date will be after clearing of cheque of transfers from bank A/c or the date in which we have issued cheque to the transferor & get signed transfer deeds.

Thanks & Regards,
Samita

Ajay Mishra

Ajay Mishra (Expert)

08 April 2012 Hi

Date of transfer will be taken when the Company at Board Meeting approve the transfer and made the entry in the register of members.

As you have given three dates is step of transfer and not the actual date of transfer.

Regards

samita

samita (Querist)

09 April 2012 Thanks Ajay Sir.

Ajay Mishra

Ajay Mishra (Expert)

09 April 2012 Always kept in mind that in any case, Board meeting date will be taken as effective date of transfer.

samita

samita (Querist)

09 April 2012 Yes Sir, So, it will be any date after the cheque has been cleared from the A/c.

Ajay Mishra

Ajay Mishra (Expert)

09 April 2012 Yes, If you reading section 108, then it says the instrument should be properly executed it means following steps have been completed:
1. Transfer deed have been purchased.
2. Consideration of share transfer has been paid by allottee or agree to pay and for this approval has been given by transferor.
3. Both parties has signed the transfer deed.
4. Stamp duty has been paid, if required.
5. Witnessed by transfer deed.
6. Transfer deed along with original certificate has been submitted with Company.

Regards

samita

samita (Querist)

09 April 2012 Thankss a allot Sir..

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