Transfer of esop shares

This query is : Resolved

rohini (Querist)
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21 February 2013 Dear Experts,

In my company, ESOP shares are held by a trust.

The shares of one of the employees are to be transferred in the name of a director's father. Director's father is not an employee of company.

The employee is no longer associated with the company

What would be the procedure for such transfer.

Please advice.

Regards,

Rohini

Ankit

Ankit (Expert)
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21 February 2013 Dear Rohini,

The concept of ESOP Trust is that the options vest in the trust and as soon as the employee exercises the options, the shares are transferred to the employee..

the transfer procedure is the same as the normal transfer ie. filling up of the transfer deed etc..

so i suppose, the same process is required to be followed in your case also.

- Ankit

rohini

rohini (Querist)
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21 February 2013 OK ...In case of any such transfer in unlisted public company, do we need to go for any valuation (if the consideration per share is more than the face value)?

Thanks for your reply

Ankit

Ankit (Expert)
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21 February 2013 you are welcome Rohini.

I dont thin valuation is required as per law..

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