Transfer not to be registered except on production of instrument of transfer.

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....h the letter of allotment of the shares or debentures: Provided that where, on an application in writing made to the company by the transferee and bearing the stamp required for an instrument of transfer, it is proved to the satisfaction of the Board of directors that the instrument of transfer signed by or on behalf of the transferor and by or on behalf of the transferee has been lost, the company may register the transfer on such terms as to indemnity as the Board may think fit: Provided further that nothing in this section shall prejudice any power of the company to register as shareholder or debenture holder any person to whom the right to any shares in, or debentures of, the company has been transmitted by operation of law. [1][(1A)....

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....than the prescribed form, shall be accepted by a company,___      (a) in the case of shares dealt in or quoted on a recognised stock exchange, at any time not later than the expiry of six months from such commencement or the date on which the register of members is closed, in accordance with law, for the first time after such commencement, whichever is later;      (b) in any other case, at any time not later than the expiry of six months from such commencement. (1C) Nothing contained in sub-sections (1A) and (1B) shall apply to___ (A) Any share___      (i) which is held by a company in any other body corporate in the name of a director or nominee in pursuance of sub-section (2....

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....;    (ii) any scheduled bank, or      (iii) any banking company (other than a scheduled bank) or financial institution approved by the Central Government by notification in the Official Gazette (and any such approval may be accorded so as to be retrospective to any date not earlier than the 1st day of April, 1966), or      (iv) the Central Government or a State Government or any corporation owned or controlled by the Central Government or a State Government, by way of security for the repayment of any loan or advance to, or for the perfor­mance of any obligation undertaken by, such person, if (1) the bank, institution, Government or corporation, as the case may be, stamps or othe....

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....ernment or a State Government in the name of its nominee, except that every instrument of transfer which is executed on or after the 1st day of October, 1966, in respect of any such share shall be in the prescribed form.] [6][(1D) Notwithstanding anything in sub-section (1A) or sub-section (1B) [7][or sub-section (1C)] where in the opinion of the Central Government it is necessary so to do to avoid hardship in any case, that Government may on an application[8] made to it in that behalf,[9] extend the periods mentioned in those sub-sections by such further time as it may deem fit [10][whether such application is made before or after the expiry of the periods aforesaid]; and the number of extensions granted hereunder and the period of each s....

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....d Amendment) Act, 1966, Act 37 of 1966, section 2, w.e.f. 1-4-1966. [8] The application under section 108(1D) is to be made in Form 7C, Companies (Central Government's) General Rules and Forms, 1956 to the Registrar of Companies of the State in which the registered office of the company is situated or to the Registrar of Companies of the State in which the transferee ordinarily resides. [Notification No. GSR 507(E), dated 24 June, 1985 as amended by Notification No. GSR 481(E), dated 22 April, 1988]. [Sub-Rule (4) of Rule 5A of General Rules and Forms, as substituted by Amendment Rules, 1988, has prescribed Form 7C in which application is to be made for extension of delivery period of transfer deed under this sub-section. The power of the ....