Paperfilings
Share Transfer
As of my last update in September 2021, “Paperfiling” is a term that generally refers to the traditional method of submitting physical documents and paperwork to the relevant government authorities or agencies.
Share Transfer
As of my last update in September 2021, “Paperfiling” is a term that generally refers to the traditional method of submitting physical documents and paperwork to the relevant government authorities or agencies. When it comes to share transfer in a company, whether it’s through the sale of shares or the transfer of shares between existing shareholders, the process usually involves the following content and steps:
Share Transfer Agreement: The transferor (current shareholder) and the transferee (the new shareholder) enter into a Share Transfer Agreement, which outlines the terms and conditions of the share transfer, including the number of shares, the consideration (price or value of the shares), and any other relevant details.
Board Resolution: The board of directors of the company must approve the share transfer by passing a board resolution. This resolution authorizes the transfer of shares from the transferor to the transferee.
Stamp Duty: In many jurisdictions, including India, stamp duty is applicable on share transfers. The Share Transfer Agreement and other relevant documents must be appropriately stamped as per the applicable stamp duty rates.
Execution of Share Transfer Deed: The Share Transfer Agreement is executed by both parties, and a share transfer deed is prepared. The share transfer deed is a legal document that formally transfers the ownership of the shares from the transferor to the transferee.
Share Certificate and Share Transfer Form: The transferor submits the share transfer deed, along with the share certificate(s) representing the shares being transferred, to the company. The transferee fills out the prescribed share transfer form provided by the company.
Approval of Directors: The board of directors reviews the share transfer documents and approves the transfer. They may verify the validity of the share transfer and ensure that all required documents are in order.
Registration and Issuance of New Share Certificate: After the board’s approval, the company registers the share transfer in its records. The company then issues a new share certificate in the name of the transferee, reflecting the updated shareholding.
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