It is the procedure of transferring existing shares from one person to another either by sale or gift. Shares in company are transferable like any other movable property; it is a voluntary handing over the rights to a person who wishes to become member in a company.
a. Section 187 of the Companies Act, 2013, where a director or nominee transfers shares on behalf of another body corporate;
b. Where transfer of shares takes place by director or nominee on behalf of a corporation owned or controlled by the central or state Government;
c. Transferring of shares by way of deposit as a security for repayment of any loan or advance If they are made with any of the following:-
i. State Bank of India; or
ii. Any scheduled bank; or
iii. Any other banking company; or
iv. Financial Institution; or
v. Central Government; or
vi. State Government; or
vii. Corporation held by the Central or State Government; or
viii. Trustees who have filed the declarations.
d. A standard format can be used as the instrument of transfer for transferring of shares.
For company minimum is Rs. 25000 and maximum is Rs. 5, 00,000.
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