Section 25 in The Industrial Development Bank Of India General Regulations, 1994
25. Transfer of shares
.-(1) Every transfer of the shares of the Development Bank shall be in writing and in Form A.(2)The instrument of transfer of any share shall be submitted to the Board and shall be signed by the transferor and the transferee and the transferor shall be deemed to remain the holder of such shares until the name of the transferee is entered in register.(3)Upon receipt by the Board of an instrument of transfer with a request to register the transfer, the Board shall, unless it refuses to register the transfer under section 13-D of the Act, cause the transfer to be registered.
