TaxTMI 
TaxTMI 
Hello Can any body tell me that my company is public listed company and one of the promoter of that company want to sell their shares to another promoter at more than market traded price . Its shares are listed on both NSE and BSE at ₹ 27 but promoter wann to deal it at ₹ 40. So can promoter do this??? and What are the provisions regrading Inter promoter share transfer under takeover code 2011???
Inter promoter share transfer
17 Jan 2015 
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Inter promoter share transfer price and intimation rules limit above-market transfers and require advance stock exchange notice.
Inter-promoter share transfer pricing is capped relative to the volume weighted average market price for the sixty trading days prior to the notice; the acquirer must intimate the stock exchanges at least four working days before acquisition. Promoters involved must have been disclosed as promoters for at least three years prior to the acquisition. Whether a public offer is required depends on Takeover Code thresholds and the resulting change in shareholding or control. (AI Summary)
Inter-promoter share transfer pricing is capped relative to the volume weighted average market price for the sixty trading days prior to the notice; the acquirer must intimate the stock exchanges at least four working days before acquisition. Promoters involved must have been disclosed as promoters for at least three years prior to the acquisition. Whether a public offer is required depends on Takeover Code thresholds and the resulting change in shareholding or control. (AI Summary)