Transferability of locked in shares
This query is : Resolved
10 January 2013
Dear All Experts,
Under Preferential allotment of conversion of warrants If a a body corporate become a promoters after allotment of convertible warrants on September 2010 and the shares under lock in period than in this case can the promoter transfer the shares to another promoters.
Regards
Nidhi Agarwal
Under Preferential allotment of conversion of warrants If a a body corporate become a promoters after allotment of convertible warrants on September 2010 and the shares under lock in period than in this case can the promoter transfer the shares to another promoters.
Regards
Nidhi Agarwal
11 January 2013
Hi
If your company is listed company, then check the lock in period upto which the shares are locked by CDSL or NSDL. During lock in the promoter can not transfer any right of shares to any one.
If your company is listed company, then check the lock in period upto which the shares are locked by CDSL or NSDL. During lock in the promoter can not transfer any right of shares to any one.
11 January 2013
Sir,
But According to under regulation 40 of ICDR regulation the Inter se transfer can be done for listed company.
But According to under regulation 40 of ICDR regulation the Inter se transfer can be done for listed company.
11 January 2013
Hi
As per our understanding transfer will not be effected during lock in of shares. Please check transaction statement of that promoter. Lock-in shares is not eligible under transfer. Please also check ICDRA Regulation on pref allotment.
As per our understanding transfer will not be effected during lock in of shares. Please check transaction statement of that promoter. Lock-in shares is not eligible under transfer. Please also check ICDRA Regulation on pref allotment.
11 January 2013
Sir,
Plz go through this link.
https://www.sebi.gov.in/acts/icdrreg09.pdf
Plz go through this link.
https://www.sebi.gov.in/acts/icdrreg09.pdf
11 January 2013
Hi
Please read sub regulation (6) of Regulation 78.
We already face the same problem and discussed with NSE and BSE on the same. The will not approve transfer during locking of that shares.
Please read sub regulation (6) of Regulation 78.
We already face the same problem and discussed with NSE and BSE on the same. The will not approve transfer during locking of that shares.
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