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Board Resolution For Transfer Of Shares In Demat Form for India

Board Resolution For Transfer Of Shares In Demat Form Template for India

A formal resolution passed by a company's Board of Directors in India that authorizes and documents the transfer of shares in dematerialized (demat) form. This document complies with the requirements of the Companies Act, 2013, SEBI regulations, and the Depositories Act, 1996. It includes specific details about the transfer, including the parties involved, share quantities, demat account information, and authorizations granted to execute the transfer. The resolution serves as official company record and provides necessary authorization to relevant stakeholders to process the share transfer through the depository system.

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Board Resolution For Transfer Of Shares In Demat Form

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What is a Board Resolution For Transfer Of Shares In Demat Form?

A Board Resolution For Transfer Of Shares In Demat Form is a crucial document required under Indian corporate law when shares need to be transferred between parties in electronic form. This resolution is mandatory under the Companies Act, 2013, and must comply with SEBI regulations and the Depositories Act, 1996. It is typically used when shareholders request to transfer their dematerialized shares to another party, requiring board approval as per the company's Articles of Association. The resolution must include specific details such as the number of shares being transferred, parties involved, their demat account details, and explicit authorization for executing the transfer. This document forms part of the company's permanent records and may be required by depositories, regulatory authorities, or for audit purposes. It's particularly important for ensuring proper corporate governance and maintaining transparent records of share ownership changes.

What sections should be included in a Board Resolution For Transfer Of Shares In Demat Form?

1. Title and Company Details: Name of the company, CIN, registered office address, and date of the resolution

2. Meeting Details: Date, time, venue/mode of the board meeting, and directors present

3. Background: Brief context about the share transfer request received and reason for consideration

4. Reference to Authority: Citation of relevant provisions of Companies Act, Articles of Association, and other applicable regulations

5. Details of Shares: Specific information about shares being transferred including number, face value, distinctive numbers (if applicable), and current form

6. Transfer Details: Names and details of transferor and transferee, their demat account information

7. Resolution Text: The main resolution text approving the transfer with specific authorizations

8. Authorization: Specific powers granted to officers/authorized signatories to execute the transfer

9. Certification: Certification by the Company Secretary or Director that the resolution is true copy

What sections are optional to include in a Board Resolution For Transfer Of Shares In Demat Form?

1. Quorum Confirmation: Explicit confirmation of meeting quorum - include when required by Articles of Association

2. Director Interest Disclosure: Declaration of any directors' interest in the transfer - include if any directors are related parties

3. Compliance Statement: Statement confirming compliance with SEBI regulations - required for listed companies

4. Lock-in Period Reference: Details of any applicable lock-in period - include if shares are subject to lock-in

5. Tax Implications: Reference to tax considerations - include if there are specific tax implications to be noted

What schedules should be included in a Board Resolution For Transfer Of Shares In Demat Form?

1. Share Transfer Details: Detailed schedule listing share certificate numbers, distinctive numbers, and other specific share identification details

2. Depository Participant Details: Complete details of the depository participants involved and their respective IDs

3. Supporting Documents: List of all supporting documents submitted with the transfer request

4. Authorized Signatories: List of authorized signatories with their specimen signatures and extent of authorization

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions




















Clauses










Relevant Industries

Financial Services

Banking

Information Technology

Manufacturing

Pharmaceuticals

Real Estate

Infrastructure

Retail

Energy

Telecommunications

Healthcare

Education

Professional Services

Mining

Agriculture

Any sector with incorporated companies

Relevant Teams

Legal

Corporate Secretarial

Compliance

Corporate Governance

Board Administration

Share Registry

Corporate Affairs

Executive Office

Investor Relations

Relevant Roles

Company Secretary

Director

Board Member

Compliance Officer

Legal Counsel

Corporate Lawyer

Managing Director

CEO

CFO

Corporate Governance Officer

Share Transfer Agent

Depository Participant Officer

Registrar and Transfer Agent

Corporate Affairs Manager

Legal Manager

Board Secretary

Industries







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