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Share transfer query

cs.silky (CS) (63 Points)

09 August 2012

kindly advise.

a company is having its registered office in noida so its ROC is Kanpur. Now can the share transfer form bearing the stamp of ROC of Delhi and Haryana be used for the transfer of the shares of such company.

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4 Replies

Utkarsh Gupta (CS) (50 Points)
Replied 09 August 2012

No
Date Stamping has to be done only by the concerned ROC, so the share transfer form to be stamped by ROC, Kanpur only

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CA.SKR (CA; CS-Final (One Group); DISA (ICAI); Insolvency Professional) (442 Points)
Replied 09 August 2012

Originally posted by : Utkarsh Gupta
	No Date Stamping has to be done only by the concerned ROC, so the share transfer form to be stamped by ROC, Kanpur only

Is there any specific section in Companies Act 1956, which says that share transfer form has to be stamped by the ROC of the state, where registered office of the company is situated. I am not aware of any such provision. If this is the position, then it seems very illogical. The transferor and transfree my live in some other state. So in my opinion, share transfer form may be stamped by any ROC in India. Please clarify.

Thanks

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CA Sumiit B Nagpal (Business) (1077 Points)
Replied 10 August 2012

There is no Specific section in the companies act which say that but in my view , Indian Stamp Act deals with that and according to which stamp duty should be paid in kanpur..

Waiting for other replies....

(Guest)

Hi,

Share transfer form 7B can be of state either where transferror or transferee resides OR where 7B is executed. It has nothing to do with ROC of the state where RO of company is situated.

You can very well use share transfer form 7B stamped by any ROC.

Lets take an eg.

Suppose you have to transfer physical shares of Reliance Industries Ltd having its RO at mumbai and transferor and transferee are in jaipur so will they obtain form 7B from mumbai. Practically it is illogical and not possible in many cases. Transferor and transferee in this case can very well use share transfer form 7B stamped by ROC of Rajasthan since form 7B is executed in jaipur.

With Regards