Recommendations of working group on transfer of shares ‑ Acceptance by Government - Follow up for their implementation

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..... their implementation You would recall that in pursuance of and announcement made by the Finance Minister in his meeting with Presidents of Stock Exchanges and Chairman of Financial Institutions, selected banks, etc., in November 1987, this Ministry had constituted a Working Group under the convenorship of Shri R. N. Bansal, Member, Company Law Board, to examine the various problems and procedu .....

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..... sale of stamps through designated bank branches at other collection centres may be made. 3. Companies should delegate power for transfer of shares, at least of small numbers, to a committee of directors/senior executives. 4. Listing agreement may be modified to have uniform dates of book closures and record dates either on 1st or 16th of any month. 5. Companies may be advised to have book c .....

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..... the stipulated period which may be provided in the listing guidelines. 2. We understand that at the recent meeting of the Presidents of Stock Exchanges, the Exchanges have decided that the number of transfer deeds relating to odd lots for forming marketably fit should be five. It is felt that this uniform practices may be implemented but reviewed after six months and the limit of five transfer .....

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