Transfer of shares
This query is : Resolved
06 April 2011
Ours is a closely held company with hardly 100 sharholders . Now some of the shareholders who are having small number of shares approched by group of sharholders to buy their share holdings . As the management do not know the intention ,we want to refuse transfer of shares . Is it correct ? or what is the remeady available to the management against such transfer ?
06 April 2011
You say, there are 100 shareholders. So I presume it's a public limited company. Public limited company cannot have put restriction on transfer of shares.
Other experts view on the matter is solicited.
Other experts view on the matter is solicited.
Message likes :
1 times
06 April 2011
Private company of course can have restrictions on transfer of shares by inserting a clause in their articles.
Message likes :
1 times
06 April 2011
Yes, Public limited company cannot restrict the Transfer of Shares. Even any acts of director attracts the provisions Penal action under the provisions of "OPPRESSION OF MANAGEMENT" under companies act,1956
Message likes :
1 times
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Form 10BD Filling
- Annual return of gst limit
- Which ITR To be filed by dentist
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
