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Right to renounce of shares
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)
AS PER SEC.62, YES THEY CAN RENOUNCE
Yes, but it is subject to provisions in the articles to the contrary. Ref. Sec. 62(1)(a)(ii).
please tell me the procedure how to renounce shares. n also draft format
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