Dear Experts,
Please guide me whether shares held by minor can be transferred by way of gift to any other person. Please also let me know restrictions or prohibitions, if any in this regard under any law.
An early feedback will be highly appreciated.
Thanks in anticipation.
@ sarvesh
If those shares are fully paid up and there is no liability in respect of shares
Yes those shares are fully paid up shares.
As per my research on internet i would come to know that a parent or guardian cannot validly dispose of the property of a minor under guardianship without court approval. Is it really so? And if it is possible to transfer shares by court order then in this case will it be necessary to execute gift deed also. pls clarify.
Arvindkumar Maniar & Co.
Rajkot
CA
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