https://www.taxtmi.com/acts?id=17535 Section 238 requires that every circular offering a scheme to transfer shares include prescribed information and a transferee statement on steps to ensure necessary cash, be presented to and registered by the Registrar before issue, and be subject to Registrar refusal with written reasons within thirty days and appeal to the Tribunal; a director issuing an unregistered circular is liable to a penalty of one lakh rupees. en-us Sat, 02 Mar 2013 14:21:41 +0530 Thu, 11 Dec 2025 16:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17535 Section 238 requires that every circular offering a scheme to transfer shares include prescribed information and a transferee statement on steps to ensure necessary cash, be presented to and registered by the Registrar before issue, and be subject to Registrar refusal with written reasons within thirty days and appeal to the Tribunal; a director issuing an unregistered circular is liable to a penalty of one lakh rupees. Act-Rules Companies Law Sat, 02 Mar 2013 14:21:41 +0530 https://www.taxtmi.com/acts?id=17535