As things stand there is a new Companies Act 2013 this financial notified from 1 April 2014.
So the old form 7B stands cancelled . But you can use a form purchased in April 2014 and executed till April 2015 ie till 1 year. Companies will have to give valid reason for rejecting such forms.
So if you have PHYSICAL SHARE CERTIFICATES TO TRANSFER procedure is :-
- The new form SH4 can be downloaded , printed filled up and executed.
- It has a 2 month or 60 day validity period .
- Stamp to be affixed .25% of Shares mkt value. ie
- NO OF SHARES x Market value = A
- Stamp duty is A x 25 /10000. (Roughly Rs 25 for every 10000)
- In MAHARASHTRA :Goto Boi caps at BSE bldg or Andheri or any branch in Maharashtra as the pathetic Mah state govt has given it a monopoly over share stamping, and they have a Rs 20 ? per transfer minimum charge ? which if true is worse than highway robbery especially if u have a small lot of shares. we all know the Telgi story and about his narco tests.
- Send it to the company / registrar along with the share certificates and self signed PAN card copies, within 45 /50 days just to be safe.
- The company has to act within 30 days.
We all know how Govt functions … and the new Transfer form for physical securities has gone missing from the MCA site.
you can google for form SH4
TSR darashaw and others have it in their downloads.
[11. Instrument of transfer.-
(1) An instrument of transfer of securities held in physical form shall
be in Form No.SH.4 and every instrument of transfer with the
date of its execution specified thereon shall be delivered to the
company within sixty days from the date of such execution. ]