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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Simplified Process for Bulk Share Transfers: Single Covering Deed Allowed for Foreign Investors and Funds Under Companies Act, 1956.</h1> Circular No. 15 of 1993, dated December 28, 1993, addresses the registration of bulk lodgement of transfer instruments for shares and debentures under the Companies Act, 1956. It acknowledges the challenges faced by Foreign Institutional Investors, Public Financial Institutions, and Mutual Funds in signing numerous individual transfer deeds when the transferee is the same. To simplify this process, the circular permits the use of a single covering transfer deed signed by the transferee, accompanied by all related transfer deeds executed by transferors. The covering deed should include an annexure with details of distinctive numbers and certificate numbers, and the requisite stamps should be affixed or paid as prescribed.
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