Transfer Of Share Ownership. Implemented.
Securities of a company are freely transferable, with restrictions on the transfer of Private Company shares given in their AOA. As per the provision of the Companies Act, 2013, a company can not register the transfer of shares unless the instruments of transfer are duly stamped, dated and executed by both the transferor and transferee. The share transfer instruments are required to be transferred within 60 days of its registration with the company.
These instruments of transfer of the securities are held in Form SH 4 and every instrument of transfer of securities is required to be delivered to the company within 60 days of its execution. In case partly paid-up shares being transferred, the company its to give a notice to the transferee in Form SH 5 regarding the transfer of such shares. The transferee is required to submit an NOC in 2 weeks within the date of receipt of such notice.
