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As per
the provisions of Section 58(1) of the Companies Act, 2013 If a private company
limited by shares refuses, whether in pursuance of any power of the company
under its articles or otherwise, to register the transfer of, or the
transmission by operation of law of the right to, any securities or interest of
a member in the company, it shall within a period of thirty days 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 transferor and the transferee or to the person giving intimation of such
transmission, as the case may be, giving reasons for such refusal.
the provisions of Section 58(1) of the Companies Act, 2013 If a private company
limited by shares refuses, whether in pursuance of any power of the company
under its articles or otherwise, to register the transfer of, or the
transmission by operation of law of the right to, any securities or interest of
a member in the company, it shall within a period of thirty days 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 transferor and the transferee or to the person giving intimation of such
transmission, as the case may be, giving reasons for such refusal.
Draft Board Resolution
for Rejection of Transfer of Shares
“RESOLVED
THAT pursuant to section 58 and 59 of the Companies Act, 2013, registration
of transfer of shares/debentures/bonds as per instruments of transfer lodged
with the Company particulars whereof are contained in the respective Register
submitted to the meeting at entries Nos….. (both inclusive) be refused for the
reasons mentioned against each of the aforesaid entries and that the notice of
refusal containing the aforesaid reasons be sent to the person(s) lodging the transfer/transferee
and transferor.”
THAT pursuant to section 58 and 59 of the Companies Act, 2013, registration
of transfer of shares/debentures/bonds as per instruments of transfer lodged
with the Company particulars whereof are contained in the respective Register
submitted to the meeting at entries Nos….. (both inclusive) be refused for the
reasons mentioned against each of the aforesaid entries and that the notice of
refusal containing the aforesaid reasons be sent to the person(s) lodging the transfer/transferee
and transferor.”
“FURTHER RESOLVED THAT Shri
_______ (name of the persons) _____ of
the company be and are hereby authorized to do all acts and take all such steps
as may be necessary, proper or expedient to give effect to the aforesaid
resolution.”
_______ (name of the persons) _____ of
the company be and are hereby authorized to do all acts and take all such steps
as may be necessary, proper or expedient to give effect to the aforesaid
resolution.”
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