Validity of share transfer deed
This query is : Resolved
14 October 2010
Dear all
In case of private limited company validity of share transfer form
share transform is of July 2009 date, it is signed by both the parties but till today it has not been stamped/franked, Can I make stamp duty in current date, register the same? will it be valid? If it is not possible what is the alternative way?
Please tell me
Thanks & Regards,
Nagamani
In case of private limited company validity of share transfer form
share transform is of July 2009 date, it is signed by both the parties but till today it has not been stamped/franked, Can I make stamp duty in current date, register the same? will it be valid? If it is not possible what is the alternative way?
Please tell me
Thanks & Regards,
Nagamani
18 October 2010
Hi
Section 108 requires that where the share transfer form is delivered to the Board it should be duly stamped. It means stamp of adequate value should be affixed and cancelled on transfer deed.
It is not necessary that stamps be affixed before transfer deed is executed, they are to be affixes before delivery.
Validity of Transfer deed
In case of shares dealt in or quoted on recognized stock exchange, at any time before the date on which the register of member is closed, in accordance with law, for the first time after the date of presentation of the prescribed form to the prescribed authority under section 108(1A)(a) or within 12 months from the date of such presentation, whichever is later.
In any other case , the deed is valid within two month from the date of such presentation.
Regards
Section 108 requires that where the share transfer form is delivered to the Board it should be duly stamped. It means stamp of adequate value should be affixed and cancelled on transfer deed.
It is not necessary that stamps be affixed before transfer deed is executed, they are to be affixes before delivery.
Validity of Transfer deed
In case of shares dealt in or quoted on recognized stock exchange, at any time before the date on which the register of member is closed, in accordance with law, for the first time after the date of presentation of the prescribed form to the prescribed authority under section 108(1A)(a) or within 12 months from the date of such presentation, whichever is later.
In any other case , the deed is valid within two month from the date of such presentation.
Regards
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