SHARES IN PVT. LTD. Co.
This query is : Resolved
28 December 2009
There is a private limited company. There are only 2 Directors. One of them Resigning and another director is appoined. Now the director who is resign holds both Eq. Shares and pref. Shares in the company.
So clarify what is to be done for this shares?
Whether company is liable to give money for the shares held by the resigned director or not?
Plz advice for other ways....
So clarify what is to be done for this shares?
Whether company is liable to give money for the shares held by the resigned director or not?
Plz advice for other ways....
28 December 2009
No,It is the commonsense that shares are the personnel property of the individual who holds it so company will not acquire those shares from the retiring director.
But if the ESOPS/Sweat equity shares are being alloted to the directors then company can acquire those ESOPS/Sweat equity shares,if stated in the articles.
But if the ESOPS/Sweat equity shares are being alloted to the directors then company can acquire those ESOPS/Sweat equity shares,if stated in the articles.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Specified Profession
- STCG FOR GOLD ETFs
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
