shares in private limited company
This query is : Resolved
14 July 2009
I have some shares in the name of a minor in a private limited company.Now the minor has attained majority.what is the procedure to change the status to a major from minor.
Will simply writing a letter to the Company serve the purpose?
Plz reply.......it's urgent
Will simply writing a letter to the Company serve the purpose?
Plz reply.......it's urgent
14 July 2009
Hi,
This question is already answered in Experts Section.
Please see
https://www.caclubindia.com/experts/experts_message_display.asp?group_id=199828
Rgds
This question is already answered in Experts Section.
Please see
https://www.caclubindia.com/experts/experts_message_display.asp?group_id=199828
Rgds
14 July 2009
Sir,I just want to get the status changed from minor to major.....I don't want to transfer it to some other person
25 July 2025
You're right to clarify — if a minor shareholder becomes a major, and you only want to update their status (not transfer the shares), the process is relatively straightforward. Here's how it works in a Private Limited Company under Indian company law:
✅ Procedure to Update Shareholder Status: Minor → Major
🔹 1. Letter to the Company
Yes — a formal letter to the company can serve the purpose, but it must include specific supporting documents. Here's a step-by-step guide:
✅ Step-by-Step Process:
1. Prepare a Request Letter
From the now-major shareholder, addressed to the company. Include:
Name of the shareholder (minor at the time of original allotment)
Date of birth
Date on which majority was attained (18th birthday)
Request to update records accordingly
Example:
“I, [Name], holding [X] shares in [Company Name], was allotted these shares as a minor under guardian [Guardian Name]. I have attained majority as of [Date]. Kindly update the records accordingly and recognize me as the shareholder.”
2. Attach Supporting Documents
Include:
Self-attested PAN card copy (now-major)
Proof of date of birth (birth certificate / Aadhaar)
Original share certificate (if in physical form)
Board resolution copy if the company requires it (optional, depends on internal policy)
3. Guardian’s No Objection Certificate (Optional)
If shares were held under a guardian's name, some companies require a short NOC from the guardian saying they no longer act on behalf of the shareholder.
4. Submit to the Company
Send the documents to the Company Secretary or Registrar and Share Transfer Agent (RTA) of the company.
5. Company Action
Once received, the company will:
Verify the documents
Update the Register of Members
Issue a confirmation letter or new share certificate (if applicable)
✳️ Important Notes:
No transfer deed (Form SH-4) is required since there’s no change in ownership, just a change in legal status.
No stamp duty is applicable.
If the shares are dematerialized, the update must be coordinated with the Depository Participant (DP) as well.
✅ Procedure to Update Shareholder Status: Minor → Major
🔹 1. Letter to the Company
Yes — a formal letter to the company can serve the purpose, but it must include specific supporting documents. Here's a step-by-step guide:
✅ Step-by-Step Process:
1. Prepare a Request Letter
From the now-major shareholder, addressed to the company. Include:
Name of the shareholder (minor at the time of original allotment)
Date of birth
Date on which majority was attained (18th birthday)
Request to update records accordingly
Example:
“I, [Name], holding [X] shares in [Company Name], was allotted these shares as a minor under guardian [Guardian Name]. I have attained majority as of [Date]. Kindly update the records accordingly and recognize me as the shareholder.”
2. Attach Supporting Documents
Include:
Self-attested PAN card copy (now-major)
Proof of date of birth (birth certificate / Aadhaar)
Original share certificate (if in physical form)
Board resolution copy if the company requires it (optional, depends on internal policy)
3. Guardian’s No Objection Certificate (Optional)
If shares were held under a guardian's name, some companies require a short NOC from the guardian saying they no longer act on behalf of the shareholder.
4. Submit to the Company
Send the documents to the Company Secretary or Registrar and Share Transfer Agent (RTA) of the company.
5. Company Action
Once received, the company will:
Verify the documents
Update the Register of Members
Issue a confirmation letter or new share certificate (if applicable)
✳️ Important Notes:
No transfer deed (Form SH-4) is required since there’s no change in ownership, just a change in legal status.
No stamp duty is applicable.
If the shares are dematerialized, the update must be coordinated with the Depository Participant (DP) as well.
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