Transfer of shares has some criteria need to follow. If all the criteria not followed than the shares transfer become void .
All the shares certificates and document transfer in the name of the purchaser.
If the all relevant proof of documents are not present than it require to inform the Bord of Directors to prepare the document in the name of the purchaser .
All the relevant document are properly stamped before its transferring .
3.Verification by the Registrar of the Company:
All the relevant documents should be presented before the registrar of that company for its verification this time period within the 2 months but in some cases extended by the central Govt.
4.More than One Receiver:
If there is more than one receiver than all of them need to signed in the transfer paper with there detail of holding percentage.
5.Joint Holder of the Shares:
If the shares and bonds are jointly owned ,than everyone need to signed documents for approval of the transfer of the shares certificates.
Special cases of the Transfer of the shares certificates:
1.President of a country or Limited company:
The nominee of the president or the nominee of the Bord of Directors of any company can sign for transfer of the shares certificates in the name of the other party.
in case of the minor holder the nominee or the guardian can sign the transfer certificate .
3.Power of the attorney holder;
The power of attorney holder of any Company have the right to make the transfer deal and signed in the transfer certificates.
4.Lunatic holder of the shares:
Lunatic people are not able to sign the transfer deed of the documents ,the legal guardian or the nominee make the transfer and signed in his or her place.
5.Shares transfer by any Trust:
In case of the shares transfer by th Trust trusty has the right to signed in the transfer documents as per the law.
In case of the Limited company the Bord of Directors of the Company has the authority to tarnsfer the shares or the nominee appointed by the Board has the right to signed in the tranfsert deeds.
In case of the liquidation the Liquidator appointed by the Govt. or by the Court has the right to signed in the transfer deed.
8.Claim of the Tax authority on the move able assets:
If the tax authority has lump sum tax due and the shares has in the control of the tax department than the Tax commissioner has the rights to signed in the transfer certificates.
Special cases of share transfer:
Cu-pons and Certificates transfer : Cu-pons and share certificate are different things. Cupons are issued and after submitting the cu-pons share alloted to the holder the cu-pons transfer no need any kinds of documentation like share transfer.
Shares transmitted to the other family members of the family in case of the death of the owner. In case of the partnership business the shares transfer to the other lived partner. In case if the holder of the shares made any will than this shares transfer as per his guideline.
In case of the insolvency the Insolvent-or appointed by the Govt, has the right to dispose the shares,and sign the transfer deeds.
In case of unsound minds the legal guardian and the nominee appointed by the court has the right to transfer the shares.