We have registered a Pvt. Ltd company recently with two directors holding 50% shares each. We would like to transfer 25% of shares each to two Societies. What is the procedure to do so?
Thanking you in advance
Bijoy Franco
Bijoy (CEO) (33 Points)
01 August 2011We have registered a Pvt. Ltd company recently with two directors holding 50% shares each. We would like to transfer 25% of shares each to two Societies. What is the procedure to do so?
Thanking you in advance
Bijoy Franco
Bijoy
(CEO)
(33 Points)
Replied 01 August 2011
Thanks Deepak.
But in our case, We are the only two directors. And both of us want to transfer share to third parties outside of company.
At the time of incorporation, our CA adviced us to start with two promoters and later stage, transfer shares to other parties to bring in other promoters.
Bijoy
CS Smriti Sharma
(ACS, B Samrish & Co.)
(880 Points)
Replied 02 August 2011
Hi,
A society can become a member of a company provided it is a registered society and is recognised as a separate legal entity.
Shares can be transfered by a private limited company provided the article of company don't restricts and board of directors agrees to it.
Thanks & Regards :
Smriti Sharma
B. Samrish & Co.
Company Secretaries
CAclubindia
