Transfer of shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 May 2012
Dear Members, Pl guide me on the below situation:
Company “A” is unlisted Public Company and holding 80% shares in a Company “B” and 100% shares in Company “C”
Now the Company “A” wish to purchase balance 20% shares of Company “B” from Company “C” at Par Value.
The MD of Company “A” is also a MD of Company “B” and Director of Company “C” .
Both buyer & seller are ready to effect the transaction at Par Value.
Can they do so? What are all the sections we need to refer? What are the implications under Companies Act, 1956?
With many thanks in advance!
K Degaleeswaran
Company “A” is unlisted Public Company and holding 80% shares in a Company “B” and 100% shares in Company “C”
Now the Company “A” wish to purchase balance 20% shares of Company “B” from Company “C” at Par Value.
The MD of Company “A” is also a MD of Company “B” and Director of Company “C” .
Both buyer & seller are ready to effect the transaction at Par Value.
Can they do so? What are all the sections we need to refer? What are the implications under Companies Act, 1956?
With many thanks in advance!
K Degaleeswaran
02 May 2012
Hi
Section 292 and Section 372A of the Companies Act, 1956 deal with such matter.
ards
Yes, absolutely if the articles of the company permit for the same, they can do.
Reg
Section 292 and Section 372A of the Companies Act, 1956 deal with such matter.
ards
Yes, absolutely if the articles of the company permit for the same, they can do.
Reg
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