INFORMAL GUIDANCE – CAN MARRIED DAUGHTERS BE RE-CLASSIFIED `PUBLIC – Eshwars
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INFORMAL GUIDANCE – CAN MARRIED DAUGHTERS BE RE-CLASSIFIED `PUBLIC

Authored by Aishwarya Lakshmi VM

Applicant: Mirza International Ltd. Date of the guidance: 10.06.2020

Factual Background

(i) The Managing Director of the Company who individually holds 11.27% shares in the company is desirous of gifting his shares to his daughters. The daughters are married and leading a separate life, away from the father.

(ii) The daughters who are prospective recipients of the shares do not want themselves to be falling within the

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