TMI BlogFINANCIAL STRUCTURE AND MEMBERSHIP – VII – TRANSFER AND TRANSMISSION OF SECURITIESX X X X Extracts X X X X X X X X Extracts X X X X ..... stamped and executed by or on behalf of the transferor and transferee has been delivered to the company along with the certificate relating to the company along with the certificate relating to the shares or debenture. Section 108(1) The instrument of transfer of shares must be in prescribed Form 7B. Section 108(1A) - Provision of Section 108 not apply to Transfer of Shares Registe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le. The Board of Directors of a Company or the concerned depository has no discretion has no discretion to refuse or without transfer of any security. Section 108A prohibits any individual, firm body corporate, group, or body corporate under common management to acquire more than 25 percent of the paid up equity share capital of a public without the prior approval of the Central Government. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , or debentures of, the company, it shall, within two months from the date on which the instrument of transfer, or the intimation of such transmission, as the case may be, was delivered to the company, send notice of the refusal to the transferee and the transferor or to the person giving intimation of such transmission, as the case may be, giving reasons for such refusal. The transferor or tran ..... X X X X Extracts X X X X X X X X Extracts X X X X
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