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Transfer of shares in a private co.

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 March 2011 There is a share transfer from one director to another in a private company. The procedure for giving effect to such transfer would be to to procure Form 7B, then pay 25p for every Rs. 100/- as stamp duty, get it stamped, then fill in the details, get it signed by transferor and transferee, and then submit it to the company.

Is the above procedure right or is there any other step involved.. Pls clarify.
thanks,
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
07 March 2011 Original share certificate also should be attached with form 7B for endorsement of transfer.
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
09 March 2011 Procedure as followed by you is in order. As advised by the expert get the original share certificate and make necessary endorsement of transfer and send it to the transferee. Also make necessary entries in the Register of Members and Share Transfer Register.
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