TRANSFER OF PVT. CO,

[P C Joshi]

Dear Friends,

A Pvt. comapny having paid up capital of Rs 1 lac and nil assets and liabilities except net loss of rs 2 lacs appx. Was initilly planning to get strike off under EES. But now a third person wants to buy the company. In my opinion this man can buy the company by simply having the entire shares transferred in his name by having few shares purchased and then getting himself appointed as director . Once he is appointed a director and is already purchased some sahres there will be no issue in transferring the shares in his name. My I right, are there any other compliances required under the companies act. 

Views of the members are solicited.
 

Thanks & Regards

P.C. Joshi
B.Com, ACS, LLB
Mobile- 09891702927