LOCATED INDIAN DIRECTOR COMPULSARY
UNDER THE NEW COMPANIES ACT 2013
Reproducing sub-section (5)

(5) Every company existing on or before the date of commencement of this Act shall,
within one year from such commencement or from the date of notification of the rules in
this regard as may be applicable, comply with the requirements of the provisions of
sub-section (4).

This is applicable only for sub-section (4). Whereas resident director is required under sub-section (3).

New share transfer form............ The Companies Act 2013 and the rules there under which have come into effect on 1st April 2014 prescribes



1  A new format of share transfer form.



2. The requirement of presentation of share transfer form before the prescribed authority has been done away with.



3. Share transfer forms have to be lodged with the Company/Registrar within 60 days of date of execution,  for registration of transfer

Consequently please note that:



1. All share transfer forms "executed" on or after 1st April 2014 shall be in Form No SH 4. Any request accompanied by the old form will  be rejected. A new form will  be sent to the transferee along with the rejection letter and copy of letter will be sent to transferor.



2.All share transfers executed upto 31st March 2014 will be processed as per  the provisions of Companies Act, 1956  and hence  "date of presentation" is applicable.



You are requested to take note of the same.

A specimen form of SH 4 is attached. You may print the same/ send it as mail attachment to such of shareholders who request you to provide the form (Not Mandatory).