Please tel that if there is dematerilisation of shares in a company ,then is it necessary to alter the Aoa.
And is transfer fees applicable on the same.Do reply very urgent
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 01 April 2010
Dear Namrata,
Kindly appreciate demat facility to the shareholder is required to be provided by the company after taking demat connectivity from depository NSDL or CDSL. For that you have to pass a bord resolution and enter into a triplicate agreement with depository and share transfer agent.
Authorisation by AOA is not required in my personal opinion before providing demat facility to shareholders.
No transfer duty is applicable for transfer of shares in case of shares is in D-mat form.
Regards
CAclubindia
