Share transfer deed
This query is : Resolved
02 March 2013
please suggest me,
i have a pdf format of share transfer deed, a shareholder want to transfer his shares to another person, can this pdf format of share transfer deed use for this purpose? this format same as form-7b but not purchased from stock exchange, this is only a format.
please reply me ASAP.
Regards
Deepak
i have a pdf format of share transfer deed, a shareholder want to transfer his shares to another person, can this pdf format of share transfer deed use for this purpose? this format same as form-7b but not purchased from stock exchange, this is only a format.
please reply me ASAP.
Regards
Deepak
02 March 2013
No, you can not use PDF format of share transfer deed. It should be issued by designated authority with properly dated and stamped.
02 March 2013
REGISTRATION OF SHARE TRANSFER
Section 108 and Regulation 19 to 24 of Table A of Schedule I to the Companies Act, 1956 deal with transfer and transmission of shares issued by a company registered in India. Section 108 of the Companies Act, 1956 regulates the registration of transfer of shares of the Company. Sub-section (1) lays down that a company shall not register transfer of its shares unless a proper instrument of transfer duly stamped and executed by or on behalf of the transferor and by or on behalf of the transferee and specifying the name, address and occupation, if any, of the transferee, has been delivered to the company along with the certificate relating to the shares or if no such share certificate is in existence, along with the letter of allotment of the shares.
The stamp duty under article 62(a) of Schedule I to the Indian Stamp Act, 1899 on the transfer of shares in a company, for every one hundred rupees or part thereof of the market value of shares has been 25 Paisa.
Every instrument of transfer shall be in Form-7B and in case of company whose shares are listed over the counter (OTC) exchange of India, the instrument of transfer shall be in Form-7BB. In relation to every offer of a scheme or contract involving the transfer of shares or class of shares in the transferor or company to the transferee company, every offer or every circular containing such offer or the transferor company by its directors to accept such offer shall be accompanied by the information as prescribed in Form-35A.
Section 108 and Regulation 19 to 24 of Table A of Schedule I to the Companies Act, 1956 deal with transfer and transmission of shares issued by a company registered in India. Section 108 of the Companies Act, 1956 regulates the registration of transfer of shares of the Company. Sub-section (1) lays down that a company shall not register transfer of its shares unless a proper instrument of transfer duly stamped and executed by or on behalf of the transferor and by or on behalf of the transferee and specifying the name, address and occupation, if any, of the transferee, has been delivered to the company along with the certificate relating to the shares or if no such share certificate is in existence, along with the letter of allotment of the shares.
The stamp duty under article 62(a) of Schedule I to the Indian Stamp Act, 1899 on the transfer of shares in a company, for every one hundred rupees or part thereof of the market value of shares has been 25 Paisa.
Every instrument of transfer shall be in Form-7B and in case of company whose shares are listed over the counter (OTC) exchange of India, the instrument of transfer shall be in Form-7BB. In relation to every offer of a scheme or contract involving the transfer of shares or class of shares in the transferor or company to the transferee company, every offer or every circular containing such offer or the transferor company by its directors to accept such offer shall be accompanied by the information as prescribed in Form-35A.
02 March 2013
thanks Ajay ji,
the company have lot of branches which is situated in rural area. and all shareholder belongs to rural area. so there is any alternative for transfer of shares because it is not possible to send physical copy to all branches and shareholders not well qualified
the company have lot of branches which is situated in rural area. and all shareholder belongs to rural area. so there is any alternative for transfer of shares because it is not possible to send physical copy to all branches and shareholders not well qualified
02 March 2013
Hi
It is the responsibility of shareholder, because they have taken shares of the company. As a company view point, if the instrument of transfer(transfer deed) is not properly signed and executed then the company will not register the transfer.
So, i will suggest you to take transfer deed from where the registered office of the company is situated.
It is the responsibility of shareholder, because they have taken shares of the company. As a company view point, if the instrument of transfer(transfer deed) is not properly signed and executed then the company will not register the transfer.
So, i will suggest you to take transfer deed from where the registered office of the company is situated.
02 March 2013
is it mandatory to use transfer deed where company's registered office is situated?
02 March 2013
No, it is not mandatory, you can also use where the registed member or transferee resides.
02 March 2013
thanks Ajay ji for your valuable suggestion.
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