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    How to deal Non Conversion of 100% shares to Demat due to non response from minority shareholders.

    Posted By : Sachin / Published on : 01-Dec-2022 04:41 AM / View : 459 / Comment : 0

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    Hi,

    Company A is a Public Limited registered on 2019, with 7 share holders out of which 3 are promoters. As per the requirements the Company take ISIN and demated the shares of 4 share holders (promoters and directors). Further the company has increased capital and allotted new shares and added new shareholders too. The initial subscriber (3) shareholders holding less than 1% is not open demat account and not complied with the procedures even after follow-ups and they were not responding to companies communications. What are your thoughts? whether its a mis compliance if 100% shares are demated? Is there any ways available to forfeit that shares? Or to transfer to IEPF?
    Read more on : minority shareholders response demat conversion shares deal

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