Transfer of shares by way of gift.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 November 2012
Dear Sir,
We are a listed Company having Authorised capital of Rs. 6 Crore. The paid up capital of the Company id Rs 5.9 Crore out of which promoters group holds 55%.
Now my question is whether one of the promoters who is relative of the promoter Director can gift his shares to the promoter Director without any consideration?
If yes then what is the limit upto which it can be done as the SEBI Guidlines and Listing Agreement?
Also suggest me the cost of stamp paper for executing the transfer.
Thanks & Regards
A.N.Khatua
Company Secretary
SPL
We are a listed Company having Authorised capital of Rs. 6 Crore. The paid up capital of the Company id Rs 5.9 Crore out of which promoters group holds 55%.
Now my question is whether one of the promoters who is relative of the promoter Director can gift his shares to the promoter Director without any consideration?
If yes then what is the limit upto which it can be done as the SEBI Guidlines and Listing Agreement?
Also suggest me the cost of stamp paper for executing the transfer.
Thanks & Regards
A.N.Khatua
Company Secretary
SPL
Ajay Mishra
(Expert)
20 November 2012
Hi
Yes, you can transfer shares of listed company as a gift and make disclosure by transferor and transferee to stock exchanges and company accordingly.
Yes, you can transfer shares of listed company as a gift and make disclosure by transferor and transferee to stock exchanges and company accordingly.
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