- Firstly, the transfer deed needs to be obtained in the prescribed form i.e. Form SH-4, endorsed by the prescribed authority.
- The instrument of transfer may not be in the prescribed form (Form SH-4) in the following cases:-
Where a director or nominee transfers shares on behalf of another body corporate under section 187 of the Companies Act, 2013;
Where a director or nominee transfers shares on behalf of a corporation owned or controlled by the central or state Government;
Shares transferred by way of deposit as a security for repayment of any loan or advance If they are made with any of the following:-