Transfer of Shares
This query is : Resolved
13 October 2010
Hi!
Kindly go through the following case and give your valuable opinion:
A 100% Govt. undertaking which was formed in 1964 has in its certificate of Incorporate written that It is a 'deemed to be public Company'. In its Articles it is written that it is a Private Company and the restictions of section 3(1)(iii) are placed.
The Company has presently three number of members. How can it go about increasing the number of members by transferring more shares and establishing a clear status as a public Company?
Pls advise.
Kindly go through the following case and give your valuable opinion:
A 100% Govt. undertaking which was formed in 1964 has in its certificate of Incorporate written that It is a 'deemed to be public Company'. In its Articles it is written that it is a Private Company and the restictions of section 3(1)(iii) are placed.
The Company has presently three number of members. How can it go about increasing the number of members by transferring more shares and establishing a clear status as a public Company?
Pls advise.
Ankur Garg
(Expert)
13 October 2010
According to me your company is a private company and you have to follow the regular procedure of conversion to convert the company in a full fledged public company.
For transfer of share procedure in a private company visit the link below:
https://www.caclubindia.com/articles/transfer-of-shares-procedural-analysis-4692.asp
For transfer of share procedure in a private company visit the link below:
https://www.caclubindia.com/articles/transfer-of-shares-procedural-analysis-4692.asp
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