How to transfer shares of private limited companies off-market?

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NSDL has issued a new rule to follow when initiating an off-market transaction involving shares of private limited companies (as defined under Section 2(68) of the Companies Act, 2013).

All off-market transfer instructions in shares of private limited companies must include a consent/confirmation letter from the company approving the transfer, along with the usual Delivery Instruction Slip (DIS).

Off-market transfer requests without the company's consent letter shall get rejected. This rule is applicable only to private limited company shares.

A sample consent letter is attached for your reference.