Hi this is kumar my company is not listed company my director need to transfer 40 k shares tranfer to anther person can pl tel me waht process i will do please help me
06 August 2009
find below the procedure for transfer of share in the Private Company:
First check your AOA provisions regarding transfer of share.
Procedure
1. Transferor --- give notice --- to the Company --- for his intention to transfer.
2. Company in turn --- notify to other member --- regarding availability of share and price at which such share would be available.
3. Such price --- generally determined by auditor/directors of the company.
4. Company --- also communicate to member --- time limit --- for option to purchase shares.
5. if nobody comed forward --- then share may be transfered to outsider --- in such case company have to accept the transfer.
Note: transfer to outsider without following AOA procedure will not be operative against the company and transfer to an outsider was held not to be effective.
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