Time period between share split and its transfer
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2013
Please advise regarding practically normal time period between request of the share holder for share split and transfer.
Thanks in advance
Thanks in advance
Ajay Mishra
(Expert)
02 January 2013
Hi
Every company, unless prohibited by any provision of law or of any order of any Court, Company Law Board/Tribunal or other authority, shall, within two months after the application for the registration of the transfer of any such shares, debentures or debenture stock, deliver, in accordance with the procedure laid down in section 53, the certificates of all shares transferred.
Every company, unless prohibited by any provision of law or of any order of any Court, Company Law Board/Tribunal or other authority, shall, within two months after the application for the registration of the transfer of any such shares, debentures or debenture stock, deliver, in accordance with the procedure laid down in section 53, the certificates of all shares transferred.
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Ajay Mishra
(Expert)
02 January 2013
Generally the shareholders made application for spliting of share certificate into different numbers. The Company of private limited other than listed company, will call a Board meeting for spliting of share certificate as per shareholders requirement and split the certificate. After this the company will issue share certificate as per section 113 of the Companies Act, 1956.
After receiving the splitted share certificate, the application will be made for transfer of shares to the company for taking effect of such transfer. The transfer will be approved in coming Board Meeting and make entry in the register of members/transfer accordingly.
In short, it is two step process from shareholders and company for giving effect to split and transfer.It can take few days or few months as per the requirement of management.
After receiving the splitted share certificate, the application will be made for transfer of shares to the company for taking effect of such transfer. The transfer will be approved in coming Board Meeting and make entry in the register of members/transfer accordingly.
In short, it is two step process from shareholders and company for giving effect to split and transfer.It can take few days or few months as per the requirement of management.
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