Find below the Briefest Procedure for Transfer of Shares in a Closely held Private Limited Company:
Step 1 – Check and Ensure that your Articles of Association does not prohibit Transfer of Shares.
Step 2 – Communicate your intention to transfer your shares to the company in writing.
Step 3 – Company notifies the fellow members, about the availability of Shares, Its Price and the Time Limit till which it is available for transfer. The Price is generally determined by the Directors or the Auditors of the Company
Step 4 – If none of the fellow members have come forward to purchase, you can transfer the shares to an outsider by issuing Form 7B
Step 5 – The Company holds a board meeting and approved such transfer (Resolution Format) issues Share Certificate to the Transferee
A more detailed reflection can be found here >> Detailed Procedure
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