Share transfer is not a cap-table edit. Section 56 creates a documentary control around instrument of transfer, share certificate/letter of allotment, timing, board approval and register update.
Section 56 says a company shall not register a transfer of securities unless a proper instrument of transfer, duly stamped, dated and executed by or on behalf of transferor and transferee, has been delivered within the prescribed period along with the certificate or letter of allotment where applicable.
| Case | Control file |
|---|---|
| Voluntary sale/gift/transfer | Instrument of transfer, stamp duty, board approval, share certificate and register update. |
| Transmission due to death/succession | Death certificate, succession/probate/legal heir documents and board note. |
| Partly paid shares | Transferee notice and objection control should be checked. |
| Demat shares | Depository records and beneficial-owner records drive transfer mechanics. |
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Section 56 covers transfer and transmission of securities.
Yes, the Articles and company process should be checked before registering transfer.
No. Transmission generally arises by operation of law such as death/succession, and needs different evidence.