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Share transfer
One non resident company transfer all shares of its subsi company to another non resident company without intimating that Indian subsi company. And due to this new non resident company became the new holding company. this transaction done in 01.01.2013. Now what is the procedure to record this transaction in Indian company records from current year.
Replies (4)
How transfer of shares can be effected without approval of Board of Directors of the subsidiary company?
the holding company is in USA and it did not intimate its subsidiary and transfered the shares to another company
As mentioned by Agrawal Sir, it is not possible to transfer shares without approval of Board of Directors of Subsidiary Company. If you are saying that transfer is already done in 2013, then it can not be valid transfer, unless approval of Board of Directors.
So, what can we do in this case.
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