Section 27 in Jharkhand Industrial Area Development Authority Regulations, 2016
27. Change In Shareholding (Cis).
- i. Change in shareholding means change of shares (up to 100%) from any existing shareholder(s) to any other shareholder(s) within the same Firm/ Company/ Entity.ii. The cases where cancellation has not been effected are eligible for change of shareholding. The application for change of shareholding may be submitted by the existing stake holders of the entity along with following requisites:-(a)Processing fee of Rs. 10,000 for land area up to 1.00 acre and an additional Rs. 2000 per acre for land in excess of one acre shall be applicable or as decided by the Authority, from time to time.(b)List of Directors/ Shareholders/ partners/partners of LLPE along with shareholding duly certified by the Chartered Accountant.(c)Details of changes shareholding after induction of respective shareholders duly certified by Registrar of Firms/ company along with certified copy of the Reconstituted Deed of Partnership/ LLPE Agreement.(d)Notarized affidavit stating the relationship of persons seeking change in shareholdings.iii. If the shareholding of any of the blood relations as defined in clause 21(d) of the original allottee from amongst existing immediate past and immediate future generation becomes less than 50%, 15% in case of MSME or 25% in case of others of land premium at the existing rate shall be payable to Jharkhand Industrial Area Development Authority by the shareholders seeking change in the shareholding. Failure of payment of land premium shall entail cancellation of allotment.
