Transfer of Shares

Hi Everybody,

I think I have not conveyed my massage properly and hence would like to explain the situation little more elaborately about my query:-

A Co called “A BC Pvt Ltd “is a Pvt Ltd Company and having share capital of Rs.10.00 Lakhs.

This company has incurred a loss of Rs 25.00 Lakhs during A\Y 2005-06 and it is carrying this loss for future year adjustment.

The Company’s share holding pattern during A\Y 2005-06 is as follows:-

Share Holder “A”      10%

Share Holder ‘B”        30%

Share Holder “C”        52%

Share Holder “D”        8%

During A\Y 2006-07 Share Holder “C” has sold it’s holding of 52%

And during the A/Y 2008-09 the company wants to adjust the C/F loss of 25.00 Lakhs against current year income, but since more then 50% of share holders has been changed between 2005-06 and 2008-09, whether this Co will allow to adjust this C/F loss or not ?

I hope now query is clear and anybody can put little more light on this issue please.