Dear all,
Closely held unlisted public limited company has made preferentail allotment with premium.
Is der any lock in period? can these shares be transfered immidiately after transfer?
Regards,
Pooja
CS Pooja (Company Secretary) (305 Points)
31 March 2011Dear all,
Closely held unlisted public limited company has made preferentail allotment with premium.
Is der any lock in period? can these shares be transfered immidiately after transfer?
Regards,
Pooja
Jyotika
(study study n study)
(147 Points)
Replied 01 April 2011
Yes I dont think there is any requirement for lock in it can transfer shares immediately after allotment
SkDash
(CS (Member) CWA (Final))
(909 Points)
Replied 01 April 2011
pooja- As per section 81 (1A) read with unlisted Companies (preferential allotment) rules, 2003-no lock in is prescribed
CS Pooja
(Company Secretary)
(305 Points)
Replied 01 April 2011
Ok. Thanks. Now my query is just now i have issued shares with premium so the immidiate transfer will be aslo with premium?what is normal practice?
Regards.
Pooja
Jaideep
(Service)
(1368 Points)
Replied 01 April 2011
You can transfer the same at lower price also...
Its matter between transferor and transfree...as such there are no pricing norms for transfer of shares in unlisted companies.
However, I will suggest to pay stamp duty atleast on face value of shares if transfered even below than face value...
Regards
Jaideep Pandya
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