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Right to renounce of shares

Others 429 views 3 replies

sushant agarwal

student

24 Points Posted on 25 June 2016

Suppose there is a private company it has 5 share holders and the company issues right issue. Can all the 5 share holders renounce their share to the relatives? Please state the reasons as well. Thankyou.

Replies (3)

Kumud prasad

Practicing CS

216 Points Posted on 26 June 2016

AS PER SEC.62, YES THEY CAN RENOUNCE

P C Agrawal

Registered independent director Past Ch

8229 Points Posted on 27 June 2016

Yes, but it is subject to provisions in the articles to the contrary. Ref. Sec. 62(1)(a)(ii).

pallavi sharma

Assistant company secretary

22 Points Posted on 08 July 2018

please tell me the procedure how to renounce shares. n also draft format

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