Can any one tell me that :
Mr. A, holds folio no.2 at the time of incorporation of Co. and after some yeas he transfers his shares to another person and his account closed on shares register and after that allotment was made by the Company and Mr. A got certain no of shares. now my question is should he allot the old folio no. that is Folio No. 2 or he should be alloted new folio no.???
Mr. A should be alloted a new folio no. as when he transferred his shares he ceased to be a member and that folio no. is now no longer valid
| Originally posted by : Kanika Gupta | ||
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Agree this is the practice. Once a member ceases from membership, One will be allotted new folio if again becomes the member.
ohk.. got it... thnk u v. much to both of u...
CAclubindia
