Share transfer in private limited



Dear Members

I have a private limited company I want to transfer share from 1 person to another what is the procedure

1st eg

A has 1000 share and B has purchase those share in month of July 2018, by paying in consideration through bank transfer.

So what will be the date of execution? as my CA told that after you recive SH-4 and date mention in SH-4 form, board meeting has to be called within 2 month and it has to be filled within 2 month. Now considerations has been done in july18 and we are at feb’19 so how to go abt it. date in which money has transfer is to consider or SH-4 form date in which company has to be consider

2nd this stamp duty has to be paid to government in annual roc filling or whitin 2 month.

 

3rd eg

‘A’ family member has died, so how to transfer A person share to B person

do B has to give letter or any procedure or form

or company has to be within 2 month of reciveing letter or in annual filing 

 
Reply   
 
Company Secreatary

 You need to see the Articles of Association of your Company what is the procedures mantioned there in,if any procedures is mentioned the same has to be followed.Else  the following is the general procedures for transfer of shares in Private Limited Company

  1. Shareholder who wants to thansfer /sale of his /her shares  to the Board of Directors the Comapny will give notice in writing stating his/her intention to transfer /sale of the shares of the company.
  2. On receipt of the Notice the Board  will determine the price as per Articles of Association.Normally  this price is determined by the Directors of the Company or an Auditor of the Company at which the shares of the Company will first be offered to present shareholders of the Company. 
  3.  The Board will  tgive notice to the other shareholders,if present shareholders do not show itentions to purchase the shares , about the availability of share stating the last date to purchase  of shares and the price at which the share are available.
  4. The Borad will intimate to the seller of the share name and address of the person who want to purchase the shares.

If the present share holders does not shaow intention to purchase additional shares then only the share are transferred /sold to the outsiders.At the same time theBoard will keep in view the maximum number of the members of the Comany.

 


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