Transfer of shares to a family member in case of private lim

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Raghavendra K S (Querist)
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14 July 2013 hi....can anyone tell me whether members have the right to transfer his shares to any family member in case of private limited company?
Whether such clause to be mentioned in AOA?

Ajay Mishra

Ajay Mishra (Expert)
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15 July 2013 Hi

Yes, you can transfer his shares to your family member with or without consideration and submit the same with original share certificate to the company.

V K Bajaj

V K Bajaj (Expert)
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15 July 2013 In continuation to Mr Ajay Mishra.....

No need to alter AOA and MOA. Simply the buyer will request the Board of Directors to transfer the shares in his/her name.