Share transfer

Others 382 views 4 replies

Shilpa.N

70 Points Joined March 2009

Dear All,

The Company (PVT LTD) has received a request from Shareholder A to transfer his 2300 shares to B by way of gift. But A does not have share certificates. And the fact is that the Company does not have any details of share certificates issued nor it has maintained statutory registers or captures the data in the annual return.

Basically both the share holder & the Company do not have the share certificate details except for the quantity, face value & ledger folio of current shareholders.

What is the recourse to the Company in such a situation? How can the share transfer be done as on date?

Experts pls advise

Replies (4)

CS Adnan Shaikh

Company Secretary

1301 Points Joined June 2012

In my opinion you could issue Duplicate Shares Certificates to the shareholders first and then proceed with the transfer of shares.

Other views are invited.

Shilpa.N

70 Points Joined March 2009

But to issue duplicate share certificate we do not know the Share certificate number of original certificate nor we know the distinctive numbers of shares held by A

CS Adnan Shaikh

Company Secretary

1301 Points Joined June 2012

Have you issued share certificates earlier? Is it lost? or you haven't issued any share certificates yet?

Shilpa.N

70 Points Joined March 2009

Actually the Company was purchased some years back, and we do not have the data pertaining to the initial shareholders & transfers made. We only know the current position that Mr A, B & C are shareholders & their ledger folio ( as picked from the annual return of the Company) .