Hi
Status: C pvt. ltd. has the follwoing sgareholding pattern:
A ltd.: 50%
B Ltd.: 49%
D: 1 %.
Now B ltd. wants to transfer its entire shareholding in C pvt. Ltd. to A Ltd. at its face value.
Query: 1. Whether filling of Share Transfer Form and handing over the same to C pvt. Ltd. alongwith shares certificates and passing of Board resolution in C pvt. Ltd. is suffice?
I think its suffice but following procedure is given in Bharat Publications for transfer of shares in pvt. ltd. company:
"(i) Transferor should give a notice in writing for his intention to transfer his share to the company.
(ii) The company in turn should notify to other members as regards the availability of shares and the price at which such share would be available to them.
(iii) Such price is generally determined by the directors or the auditors of the company.
(iv) The company should also intimate to the members, the time limit within which they should communicate their option to purchase shares on transfer."
2. Should i need to follow this procedure?
Regards
Hinna Garg
CAclubindia
