Need some information about Share Transfer in Private Limited Company

Hi 

 

We were 2 directors and Shareholders in my pvt ltd company but due to some reasons other person had to leave and he wants to transfer all the shares to me and new director. 
 

we have changed Director in the company but our CA took only sign on SH4 document from both the parties and said done. Now the challenge is how to update in MOA and AOA or how to legally authenticate coz he is saying we can just file while yearly filing but then it this legally correct until there is an online process the other party will be shareholder in the company ? 
 

please suggest 

Regards 

H Mehta 

Replies (2)
Quick Summary
This discussion clarifies the process for transferring shares in a Private Limited Company. While the Memorandum and Articles of Association (MOA/AOA) don't need changing, the correct procedure involves a duly executed and stamped SH-4 form. This is then noted in a board meeting, and the company's share and transfer registers are updated accordingly. The updated shareholder list is then filed with the company's annual return.

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The transfer of shares has nothing to do with MOA and AOA of the Company. The details of First Director and Subscriber remain same, as it was, at the time of Incorporation.

For Transfer of Shares, SH-4 should be duly executed and stamped and will be taken on note in Board Meeting. Updation of Shs register and transfer register will be there, and the updated list of shareholders will be filed with Annual Return of the Company. 

Thanks! 

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