SHARE TRANSFER Form in Karnataka

Meaning
A share transfer is the process of transferring existing shares from one person to another; either by sale or gift. GetmyCA offer services of Share Transfer in Karnataka which means the voluntary handing over of the rights and possibly, the duties of a member (as represented in a share of the company) from a shareholder who wishes to not be a member in the company any more to a person who wishes of becoming a member. Thus, shares in a company are transferable like any other movable property in the absence of any expressed restrictions under the articles of the company.

Persons involved in the transfer

• Subscribers to the memorandum
• Legal Representative, in case of a deceased.
• Transferor
• Transferee
• Company (whether listed/ unlisted).

Shares transferred by way of deposit as a security for repayment of any loan or advance If they are made with any of the following:-

1. State Government;
2. Central Government;
3. State Bank of India;
4. Any scheduled bank;
5. Financial Institution;
6. Any other banking company;
7. Trustees who have filed the declarations.
8. Any corporation held by the Central or State Government;

1. The relevant share/debenture certificate or allotment letter with the transfer deed must be attached and sent to the company.
2. In case the application made by the transferor, is for partly paid shares, the company has to duly notify the amount due on shares/debentures to the transferee. Also, a no objection from the transferee is required within two weeks from the date of receipt of the said notice..
3. Affix the same value stamp on a written application if signed transfer deed has been lost. In this case, the board may register the transfer on specific terms of indemnity as it thinks fit..
4. If the shares of the company are listed in a recognized stock exchange, then the company cannot charge any fee for registration of transfers of shares and debentures..