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Transfer of shares without consideration

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(Querist)
28 May 2008 Can I know the procedure to be followed for transferring shares without consideration for a pvt. ltd. & public ltd. company?? (If shares are gifted)
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CA. Yayati Tyagi

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CA. Yayati Tyagi (Expert)
28 May 2008 is there any provision in act which allow this? i never seen it.

a good idea may be to issue shares at very nominal value and treat the difference as discount on issue of shares.

i am not sure if company can issue shares at 100% discount.
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CA. Yayati Tyagi

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CA. Yayati Tyagi (Expert)
03 June 2008 if ur question was not related to company issue and u meant to transfer shares held be a person to another person, the receiver need to send ur share certificates to company alongwith share transfer form duly signed by u and receiver. then co. will issue new certificate in his name. it will not ask abt consideration.

if u have shares i dmat form, u can give instructions to ur depository to transfer the shares in a/c of receiver. he will do it without asking abt remuneration.
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