TaxTMI 
TaxTMI 
Share Transfer - Registration of Guidelines for good or bad delivery of documents
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....the Government. You are requested to implement these guidelines immediately. GUIDELINES: FOR GOOD OR BAD DELIVERY OF DOCUMENTS Sl.No. Good or Bad Delivery Remarks 1 2 3 Transfer Deed 1. Transfer deeds in the prescribed form and printed with the words "For the ............. Stock Exchange". Good Stock Exchange emblem may or may not be printed. Month and year of printing may or may not be put on the reverse of the transfer deed. 2. Transfer deeds with any correction, erasure, overwriting, alteration or crossing out. Good If properly authenticated under the signature by the transferor(s) or by the transferee along with the last lodging broker. 3. Mutilated transfer deed with signature of the transferor, witness, directors and officers of the company or distinctive numbers or any material portion badly torn or defaced. Bad - 4. Consideration amount and date of execution of the transfer deeds are filled in. Bad - 5. Income-tax authority or Collector signs as transferor. Good Number and date of the relative....
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....power has been registered with the company, with particulars of the date and number of registration. 18. Shares in the name of a limited company or individual transfer deed signed under power of attorney. Good Number and date of registration of power of attorney with the company necessary. 19. Shares standing in the name of a company and transfer deed signed by officer incharge/any authorised signatory of the company (other than a director). Good Delivering broker to confirm in the transfer deed signatory other than a director is authorised as per board resolution. 20. Transfer deeds signed under power of attorney where the power given is subject to conditions. Bad - 21. Transferor's signature witnessed by a person but his full name not given. Good If the name and address of the witness are perfectly legible. 22. Company's name has been changed but the old name is mentioned in the transfer deed. Good - 23. Signature of the witness in English, Hindi or in anyone of the scheduled languages in India. Indian languages : (1) Assamese, (2) Bengali, (3) Gujarati, (4) Hind....
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....deeds bearing signatures of witnesses, the address of the witness being in a different city or town or centre other than that of transferor or transferee. Good - 36. Transferor's signature in English, Hindi or in anyone of the Scheduled languages of India. Indian languages : (1) Assamese, (2) Bengali, (3) Gujarati, (4) Hindi, (5) Kannada, (6), Kashmiri, (7) Malayalam, (8) Marathi, (9) Oriya, (10) Punjabi, (11) Sanskrit, (12) Tamil, (13) Telugu and (14) Urdu-as per Constitution of India-Eighth Schedule [Articles 344(i) and 451]. Good - 37. Signature of the transferor is in an Indian language other than the Scheduled languages of India or when the transferor has affixed his thumb impression. Good If attested by a special executive magistrate or any other person authorised to attest signatures under the seal/stamp of his office. 38. Sale of securities in the name of a minor but guardian signing as guardian for the minor. Good A certified copy of Court's Order for the sale should be attached except in cases where it is specifically exempted. 39. Transfer deeds signed on behalf of minor or a lunat....
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.... Unless the transfer deed is certified and counter-signed by the liquidator. 49. Transfer deeds in respect of joint holdings signed by all the joint holders in any order. Good Provided the signatures are against the relative names filled up in the transfer deed. 50. In the case of joint holding registered with the company with "Either or survivor" clause, the transfer deeds signed by one of the joint holders. Good - 51. Transfer deeds bearing the usual ordinary signature of the transferor, but either there is a difference in spelling with reference to the share certificate, or the signature does not contain one or more of the initials, or the signature being illegible. Good - 52. Name of transferor mentioned as Dr. Miss C. Annapoorni in the transfer deed whereas in the share certificate it is only as Miss C. Annapoorni. Good - 53. The name of the delivering broker with his All-India Code Number and date not mentioned at the back of the transfer deed. Bad - SHARE CERTIFICATES 54. Second call paid first and the first call paid thereafter. Good....
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.... Register Folio is same. Good - 66. Any significant correction, erasure, overwriting, crossing out or alteration in the quantity of the shares, in the certificate numbers or the distinctive numbers of shares, in the last registered holder's name or in any material particulars on the share certificate. Bad Unless the authorised signatory who has signed on the certificate, initials the correction or the correction is initialled and authenticated by an officer under the Company's rubber stamp. 67. Allotment letters fully paid up or otherwise instead of share certificates. Good Till the next closure of the register of members of the company consequent to the date of the allotment letter or till the issue of share certificates by the company, whichever is later. 68. Any alteration or erasure or correction without initials in the transfer endorsement on the back of the share certificate, as for example made in the year 1960 and subsequently the shares have again been transferred by the company, say in 1961. Good - 69. Share certificates/transfer deeds with rubber stamps of banks either on the face or ....
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....hare certificate and initialled by the authorised signatory but the date of payment is not recorded. Good - 81. Delivery of pucca transfer receipts in marketable lots, split consolidation, renewal and transmission, receipts, instead of share certificates. Good For a period of three months or until the certificates are ready whichever is earlier. Without conditions such as 'Subject to the approval of the directors' or similar noting on the receipt. The receipt should bear the discharge by the Registered holder wherever applicable. 82. In the case of partly paid shares, when a call has been made but not paid and delivery effected during the period of ten days before the last date fixed for payment. Bad Unless the call receipts duly realised as certified by the concerned banker or photocopies thereof are attached to the documents. 83. In the case of partly-paid shares/bonds/debentures where delivery is effected after the last date fixed for payment. Bad Unless the call receipts duly realised as certified by the concerned banker or photocopies verified by the first introducing broker there are attached to....