As of my last update in September 2021, I can provide you with information about share transfer filing with the Ministry of Corporate Affairs (MCA) in India. Please note that regulations and procedures may change over time, so it's essential to check for the latest updates from official sources before proceeding.
When a private or public company in India undergoes a transfer of shares between its shareholders, certain filings with the MCA are required to maintain transparency and compliance. Here's an overview of the share transfer process and the necessary filings:
1. Share Transfer Process:
- Obtain a duly executed share transfer deed: The transferor (seller) and the transferee (buyer) need to execute a share transfer deed in the prescribed format. This deed includes details such as the names of the transferor and transferee, the number of shares being transferred, consideration (if any), and their signatures.
- Delivery of share transfer deed: The transferor should deliver the share transfer deed to the company, and the board of directors must approve the transfer.
- Issuance of new share certificate: After approving the transfer, the company should issue a new share certificate in the name of the transferee, replacing the old one.
2. Filings with the MCA:
- Form SH-4: The company is required to file Form SH-4 (Declaration of Beneficial Interest in Shares) with the Registrar of Companies (RoC) within 30 days from the date of the share transfer. This form contains details of the transfer, such as the names of the transferor and transferee, the number of shares transferred, consideration (if any), and other relevant information.
- Maintain Register of Members: The company must update its Register of Members to reflect the share transfer details. The updated register should be kept at the company's registered office and should be made available for inspection by shareholders and authorities.
It's crucial to ensure that the share transfer complies with the provisions of the Companies Act, 2013, the company's Articles of Association, and any other relevant regulations.
Note: The process and specific forms for share transfer filing might vary based on the type of company (private or public) and any changes in regulations that might have occurred since my last update. Therefore, I strongly recommend consulting a qualified professional or legal advisor or referring to the latest information available on the MCA's official website for accurate and up-to-date procedures.
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