Notice of closure of transfer books, without making any reference - Companies Law - No. 8/57(154)/64‑PR,

Circular : No. 8/57(154)/64 ‑ PR, dated 30 ‑ 3 ‑ 1965. Subject:- N otice of closure of transfer books, without making any reference Some companies are in the habit of issuing notices in the newspapers regarding closure of transfer books apparently pursuant to section 154 without, however, making any reference in the notice either to the aforesaid section or to the closure of the register of members or of debenture‑holders. The notices issued by some other companies, on the other hand, refer to the closure of transfer books besides the register of members and/or debenture‑holders. the Company Law Board considers that this divergence in the practice followed by companies in this regard is likely to create confusion in the minds of the share holders. As section 154 specifically refers only to the register of members and of debentureholders, it is considered desirable that notices issued by companies pursuant to the section should expressly refer to the closure of the said registers only. The transfer books or share transfer books of a company, not being statutory documents, any notice of their closure under section 154 is neither necessary, nor would it be in order, if the said books are different from the register of members or debenture‑holders.