In case of Pledge of shares, pledger give blank transfer form along with share certificate to the pledgee. We know that share tranfer form in case of Private Limited Company remains valid only for two months after presentation to the prescribed authority. If pledge is for a long tenure, how pledgee will keep share transfer form alive for such a long time.
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Share transfer form
Replies (5)
Hi,
Companies Act is silent relted to pldge of shares.
The best thing that you can do is :
On blank share transfer form take signature of shareholders after paying stamp duty on it and this can be kept with the pledgee for long period of time.
Dear All,
In the given situation take 'Power of Attorny ' from the Shareholders. Signed Transfer Form as suggested by our friend may not be a valid solution.
Regards,
Sunil K. Jain
Practising Company Secretary
9810104162;skj13 @ rediffmail.com
Dear Sunil,
With all respect to ur above solution,
I really doubt this will work bcz:
1) power of attorney can never be given for infinite period of time.
2) pledgeing of share certificates and share transfer forms cannot be substituted with POW.
3)With MCA in form 20B needs to be filed with share transfer forms rather POW.
Regards,
Vaibhav
8080671477
dear sir,
you make take fresh transfer forms at the time of expiry of previously taken transfer forms.
regards,
sangram 9422622828.
You can get undated Transfer Deeds which are also available in the market. Further you have to take Power of Attorney and it may be valid till the tenure of the Pledge.
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