hello professionals,
A Company soon after incorporation allotted shared to the subscribers. However the opening of bank account took time due to legal hurdles. Meanwhile the allottee, a non resident (holding 99% shares) went out of India and bank refused to open account without his presence however they agree if he transfer his shares to resident person. Is this possible to transfer such shares, which has been allotted pursuant to Incorporation of the Company but for which no subscription money is received yet?
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If in the company Bank account yet not opened and subscription money paid in cash to the Company , in that case can we transfer share from one person to another without filing INC-20A , Please suggest
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As per the first proviso of rule 6(1) of the Investor Education and
Protection Fund Authority (Accounting, Audit, Transfer, and Refund)
Rules, 2016 where the beneficial owner has encashed any dividend
warrants during the last seven years, his or her shares are not liable
to be transferred to the fund.
In this case, if any shareholder encashes any dividend warrants after the expiry of said seven years, would his shares be liable to be transferred to IEPF or not?
after
years
iepf
transferred
dividend
encashment
In compromises and arrangement, where the transferor company is a listed company and the transferee company is an unlisted company, after merging does transferee company automatically become the listed company ?
merger
amalgamation
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Hi Members,
Whether GST leviable on inter-state transfer of aircraft engines, parts and accessories for use by their own airlines?
Hi members,
How can a shareholder whose shares have been transferred to IEPF
claim back his shares?
iepf
transferred
shares
claiming
Hello Members,
1. Is there any FEMA compliance for transfer of any amount by Indian Company to its South Africa Branch for business purpose (e.g Payment of salary by branch to South African Employee or any payment to local consultant)
2. Is there any FEMA compliance for transfer of any amount by South Africa Branch to its Indian Company (Head Office).
3. Is there any violation in FEMA if South Africa branch receive money on behalf of sales invoice raised by its Indian Company (Head Office)
share
transfer
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Hello All,
A is the private limited company with paid up capital of Rs. 1 lac and B Pvt. Ltd. And c Pvt. Ltd. Are its shareholders. B Pvt. Ltd. Wanted to sell its shares to Mr. x other than existing shareholders.
The paperwork should be:
1. Notice by transferor to company A
2. Letter by company to A to existing shareholder stating of such proposal at same price or higher price
3. Intimation to transferor by the A company that the existing shareholder is not interested. So you can sell the share to non existing member
4. Application to purchase shares by Mr. X to B Pvt. Ltd.
5. BR by B Pvt. Ltd. For agreeing to sell the shares to Pvt. Ltd. And asking A Pvt. Ltd. To get the valuation of shares done as per general accounting standard.
6. Application to transfer shares and valuation of shares by B Pvt. Ltd. To A company
7. br by B Pvt. Ltd. to sell the shares at a premium amount Rs. 15 as valuation done by the auditor of A company
8. Application to sell the share and giving transfer instrument along with share certificate by B Pvt. Ltd. To A company
9. Sh-4 along with Share certificate
10. BR for transfer of shares by A company
Is this the correct way to proceed with transfer of shares?
*AOA Provisions in this regard:
The board may subject to right of appeal conferred by section 58 decline to register
a) the transfer of share, not being a fully paid share, to a person who they do not approve
Can we assume in the said clause of AOA permit the transfer of share to non existing if the board approves.
*Share transfer stamp duty should be 0.015 of the said amount.
*Do we need to pay stamp duty online or adhere to the share transfer stamp duty affixed in sh-4 is sufficient. The state is UP
*Also while mentioning in the sh-4 column the nominal value of each unit of security should be Rs. 10, amount called up per unit of security should Rs. 15, amount paid per unit of security should be Rs. 15.
*Also is the valuation of shares by the auditor mandatory?
*Should we also offer a premium amount of Rs. 15 from existing shareholders or face value of Rs. 10 each is sufficient.
Also in future if c Pvt. Ltd. Want to sell its share can it transfer the share at face value or is a premium amount mandatory?
Please revert to my queries.
Hi,
In case of transfer, whether transfer consideration can be received in cash?
transfer
Dear All
X private Ltd holding 5000 Preference shares at Rs.10 each in Y Private Limited. Now X private limited director wants to get share transferred in him name in Y private limited with total consideration of 21 lakh.
Share transfer process as per sec 56 is sufficient by executing SH4 deed, Payment of stamp duty and convene board meeting to pass the resolution of share transfer and update in the register and report the transfer in annual return
Anyother process with respect to sec 188 need to comply?
Dear Member,
1. Whether any filing under FEMA required?
2. Where stamp duty will be paid; (in country of execution, India or both).
Hi,
In case of a wholly owned subsidiary, 1 share is held by an individual member who is the registered owner of this share. This 1 share is to be transferred to another person, who is a director in the WOS. We would take Form SH4 and get it signed by the transferor and transferee and also have the board resolution passed to approve the transfer. Please let me know if there is any other compliance to be done with regard to the above. We will take declarations as required u/s89 after the transfer is done.
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