Split of Shares and transfer of shares

[shilpita mundhra]

Hi everyone,

Can anyone please help me with the procedure of split of shares and transfer the same in private company.

The case is:

Mr. A, director of the co. has 1500 shares. This has to be split into 500 shares and these 500 shares are to be transferred to Mr. B, director.

Apart from SH 1 to Mr. A and SH 2 for transfer in the name of Mr. B, is there anything required?

Regards,

Shilpita Mundhra

[Ashwini C B]

Hi,

You have to get SH-4 i.e Share transfer form to be executed for transfer of shares after splitting of share Certificate.

Thanks & regards, 

CS Ashwini.C B

Practicing Company Secretary

email: ashwin...@gmail.com

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[Shilpita Mundhra]

Can you please tell the entire procedure and relevant section?

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[shilpa kasliwal]

Dear neha,

Procedure is as follows:

1.  Mr. A will apply for splitting and send request letter along with original share certificate to Company

2.  Company will hold a BM and after getting Board approval will Issue fresh certificates as per the request letter and will update in statutory registers

3.  Mr. B will submit duly stamped and sign SH-4 to Company

4. Company will check all the Compliance related with share transfer and will hold a BM and after getting Board approval share certificate will be send to Mr. B after making entries on the reverse side of Share Certificate and will update in statutory registers.

[Shilpita Mundhra]

Thank you 

How will Mr. A apply for the same? Is there any format of the request letter?

Rest are clear.

[shilpa kasliwal]

no prescribed format 

[Shilpita Mundhra]

In regard to the previous trailing mails, I have a doubt.

Will Company issue fresh certificate of share in SH-1 to Mr. B after his submission of Form SH-4 to company?

[Darshana Kakani]

hey, Is it necessary to write on faceof spliited share certificate "Share certificate issued in lieu of share certificate no... consequent to spliiting up of shaer certificate" or like that ?

I'snt the board resolution is enough?

[Shilpita Mundhra]

Seeing the split share certificate, you cannot make out whether it is fresh certificate or split one. You have to write on the face of it "Split of Share Certificate No. __. Issued in lieu of Share Certificate No. __"

Nothing mentioned on the Certificate indicates, its a fresh issue of Share

Warm Regards,

Shilpita Mundhra

Company Secretary

ACS 45111

On Fri, Aug 26, 2016 at 3:18 PM, Darshana Kakani <darshan...@gmail.com> wrote:

hey, Is it necessary to write on faceof spliited share certificate "Share certificate issued in lieu of share certificate no... consequent to spliiting up of shaer certificate" or like that ?

I'snt the board resolution is enough?

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[Darshana Kakani]

can u tell me in exact where i need to write this?or please attach the copy of same if u have? and help me regarding common seal of the company mandatory on share certificate?

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[Shilpita Mundhra]

You can write on the face of the share certificate. Above, nearby where name of the company is written, there is some space, you can write there. 

Regarding common seal, it will depend on the AOA of the Company. Check that.

Warm Regards,

Shilpita Mundhra

Company Secretary

ACS 45111

[Darshana Kakani]

ok thnx. please clarify me, whether the certificate which got splitted shud bear words " cancelled" ? what else i wud have to do to make effect that is cancelled?

[Shilpita Mundhra]

On the original Share Certificate which is getting split, u have to cancel that share by striking it and writing the word "CANCELLED" on the face of it. 

A resolution is to be passed for the same.

Warm Regards,

Shilpita Mundhra

Company Secretary

ACS 45111

[Darshana Kakani]

ok thanx. please clarify me whether teh share which got spltted must bear word " cancelled" ?

[Darshana Kakani]

ok thanx a lot.

[Shubhra garg]

Do one board meeting is enough or we need to hold two BM??

CS Shubhra Garg