TRANSFER OF SHARES NEW PROCEDURE

[Srikanthnns]

1.Hello everyone regarding the transfer of shares whether the Form 7B is still in existence or Form SH-4 has come into effect from April 1 st as per Companies(Share Capital & Debentures) Rules, 2014?

2.If yes does SH-4 needs to be registered like earlier Form 7B(Instrument of Transfer) or its not required and its sufficeint to submit the executed Instrument of transfer SH-4 be submitted to the company directly along with the Share Certificates? Please throw some light on the same?

CS Srikanth Nns
9959988910
cssrik...@hotmail.com 

[Pracheta]

Form SH-4 is now in place. As you rightly said, there is no presentation now and has to be sent to company directly.

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Best Regards,

CS.Pracheta.M

Practising Company Secretary

Ph: 98446 88622

[MOHIT SALUJA]

Dear Sir/ Madam

                         Greetings of the Day.

SH 4, now will have to be presented to Board within 60 months of its execution where the Board of the company will approve the same and record the execution of such transfer/ register the transfer of shares. And hence, the company will issue share certificate within 1 month of the date of receipt of instrument of transfer/ transmission.

Regards,
CS Mohit Saluja

Mohit Saluja & Associates
Company Secretaries

Jalandhar
9914558709

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[Vivek Hegde]

Dear Mohit,

It is 60 days, not months.

Sent from my iPad

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[MOHIT SALUJA]

Dear Vivek

                         Greetings of the Day.

Yes, its 60 days. Thanks for correction

Regards,
Mohit Saluja
Company Secretary

[Pooja Barot]

Hello,

Please correct if I am wrong.

Whether we have to pay stamp duty of 0.25% of consideration like earlier?

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Regards,

 

ACS Pooja Barot

[deepali balpande]

Dear Sir,

From where we get Form SH 4 . can you provide me the PDF of share and debenture rules 2014.

I will be very thankful to you.

Regards,

Deepali  

[Nagaraja Rao]

Yes. there is no change in stamp duty it is 0.25% of value of shares.  I am told that the form 4 can be downloaded from MCA site as and when needed. I have yet to try.

Thanks and Regards,
J.Nagaraja Rao
Company Secretary
mob 9686177553

[Pracheta]

SH4 format is available in the rules. Same has to be taken and printed and after filling the details and affixing stamps, the same has to be sent Company for transfer.

[anjna makhija]

  please confirm since rules relating to share capital chapter is yet to be notified , so  in this case can we use new format of share transfer form and share certificae.

 please confirm. 

  thanks
  anjna
  9868556652

[Vivek Hegde]

Dear Members,

I guess new share transfer forms are not currently available in the market. Even ROC offices are not ready with stamping machine for the same I heard.

Warm Regards

CS Vivek Hegde,B.com, ACS, CWA

Vivek Hegde & Co.
Company Secretaries
No. 2034, 26th Cross, K.R.Road
Banashankari II Stage, Behind 

Sevakshetra Hospital

Bangalore-560070
Mob : 09900898223

Off: 080 26710677

[Manju Vohra]

Dear Member,

 you only have to follow the old procedure as the this rule is yet to be notified..but still for your ref I have attached new format pl see on pg no 55-56 SH-4

[srikanth nns]

Thanks to each and everyone for replies.

As rightly pointed out by madam anjna

please confirm since rules relating to share capital chapter is yet to be notified , so  in this case can we use new format of share transfer form and share certificae.

 please confirm. 

On Mon, Apr 21, 2014 at 5:53 PM, anjna makhija <anjna...@gmail.com> wrote:

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Thanks & Regards

CS NNS SRIKANTH 

 

B Chagan Lal & Associates

Company Secretaries

H NO: 1-4-879/75/A/1, MCH NO:970,

STREET NO: 8, BAKARAM, 

GANDHINAGAR-  500080.

MOBILE NO: 99599 88910

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[Rakesh Sharma]

Dear All,

The new Form SH-4  is available with the Delhi Stock Exchange. They are selling the same Rs. 10/- per  Form.

No ROC Stamping (in red color) affixed/appearing thereon.

Only One Serial No.  at the Back side bottom of Share Transfer form .

regards,

Sent from my SONY mobile!

[srikanth nns]

CS Rakesh sharma ji can you actually send me a scanned copy of what is avialable at Delhi ROC so that we will have a clear picture of whats the exact look

Thanks in advance

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[CS Chandru]

Dear All,

 

I went thru the discussions on new procedure for share transfer under new Act and replacement of  Form 7B by SH-4. Very informative.

 

I have few observations here -

 

One is that the governing Section 56 - Transfer and Transmission of securities is notified hence the proper intrument of transfer as reffered therein shall henceforth be in Form SH-4 and not in earlier Form 7B.

 

Secondly, as Form SH-4 are right now not available at ROC or stock exg offices at other states except at Delhi ROC, Instead of till Form SH 4s are be made available at ROC offices of all places, we can also print Form SH 4 and produce before the Prescribed Authorities such as ROC's, IT Commissioners, Official Liquidator offices etc for the purpose of endorcement of date on transfer deeds (i.e SH 4) which will be valid for 2 months. I feel doing so is as valid as purchasing directly from ROC or St Exgs offices. This will avoid heardships in share transfers kept on hold only for this transition reason.

 

Other's views are solicited..

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Thanks & Regards

CS Chandrashekhar

+91 9743148312

 

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[Pracheta]

Dear Sir,

Can you elaborate why it has to be endorsed by the RoC or others?

[deepali balpande]

Dear Sir/madam,

As you said the section is notified but rules are not yet notified. how can we use new form for use.

Thanks & Regards,

Deepali 

On Mon, Apr 28, 2014 at 12:02 PM, CS Chandru <cvkor...@gmail.com> wrote:

[CS.Sunil Kumar B.G.]

I do not see any need for the endorsement by the ROC or other authority for the latest SH-4.

Thanks & Regards,

CS.Sunil Kumar B.G.
Sunil B.G. & Associates
Company Secretaries
Mysore

[Pracheta]

Rules are also notified

On Mon, Apr 28, 2014 at 2:53 PM, deepali balpande <balpand...@gmail.com> wrote:

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[CS Chandru]

Hi,

 

From the Statement of Notification of Rules released by MCA, it is evident that Rules for Chapter IV - Share capital and Debentures are effective from 1.4.2014. Hence SH-4 have replaced the earlier Form 7B w.e.f Apr 1, 2014

 

From the comparative study of Sec 56 and eastwhile Sec 108 of Act 1956, presentation of transfer deed before ROCs or prescribed authorities for endorcement as required earlier is now done away with. So I understand SH 4 need not be procured from ROC or prescribed authorities offices. We jus have to fill in details of parties in SH 4 format and stamped & executed SH 4 be submitted to the Company with share certificate within 60 days from date of execution. If this is true than what is that transfer deed Delhi ROC office is providing for Rs 10 each???

 

Pls enlighten me on this...

 

 

On Mon, Apr 28, 2014 at 2:53 PM, deepali balpande <balpand...@gmail.com> wrote:

[Pracheta]

I second your understanding. Even I am curious to know what is that transfer form at Delhi RoC.

[Vivek Hegde]

Interesting... We rarely see a simplified procedure under CA, 2013....!

Warm Regards

CS Vivek Hegde,B.com, ACS, CWA

Vivek Hegde & Co.
Company Secretaries
No. 2034, 26th Cross, K.R.Road
Banashankari II Stage, Behind 

Sevakshetra Hospital

Bangalore-560070
Mob : 09900898223

Off: 080 26710677