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Transfer of shares

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Querist : Anonymous

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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
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Ajay Mishra

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Ajay Mishra (Expert)
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.



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