By transfer of shares it means transferring the title of the shares by one party to the other voluntarily.
The directors of a company are chosen by the shareholders to run its day-to-day proceedings. This infers that in spite of the directors managing the daily affairs of the company, the shareholders are the ultimate owners of the company. The ownership of a company can be transferred by transferring the shares of the company from one name to the other.
The transfer of shares in a private company has a different procedure than that of a public company.
The Article of Association generally guides a Private Limited Company. If the transfer of shares violates the AOA or doesn’t consider it, it becomes void.
The provision for the transfer of shares in a private company is a fundamental characteristic of the securities of a company. In spite of some limitations on the transfer of shares in a private company as per the AOA, the securities of a company are generally freely transferable.
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