The transfer of shares under the CA2013 requires the companies to issue the relevant certificates for the same within a specified time limit. This time limit is basically a period of one month from the date when the instrument of transfer is first received by the company. It is understandable that the shares of a company are a movable asset and that is what makes them freely transferable too. In case a certain company plans on making such a transfer, they will have to fill up the related form recommended by the Companies Act 2013.
The share transfer form has to be duly stamped and dated. It also has to bear the names of the transferor and the transferee. Partly paid shares cannot be transferred without a thorough analysis and special permit from the Board. The adequate value of the document along with the relevant dates needs to be mentioned on the form. The buyer also will have to be notified about any pending payments and a certificate for no objection in case he or she is willing to allow the transfer of partly paid shares. It is also important to be aware about the applicable stamp duty on share transfer as well as other details.
The share transfer form has to be duly stamped and dated. It also has to bear the names of the transferor and the transferee. Partly paid shares cannot be transferred without a thorough analysis and special permit from the Board. The adequate value of the document along with the relevant dates needs to be mentioned on the form. The buyer also will have to be notified about any pending payments and a certificate for no objection in case he or she is willing to allow the transfer of partly paid shares. It is also important to be aware about the applicable stamp duty on share transfer as well as other details.
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