Shares transfer

This query is : Resolved

suresh (Querist)
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06 August 2009 Dear Sir,

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

Regards
Suresh

Ankur Garg

Ankur Garg (Expert)
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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.

Best Regards

Ankur Garg

Ankur Garg (Expert)
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06 August 2009 To download the board meeting minutes for regarding transfer of share click the link below:

Minutes for transfer of share

https://www.caclubindia.com/share_files/files_display.asp?files_id=13193

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