law: Companies Act, 1956
  Sec 110    -    
  
  Application for transfer. 
  (1) An application for the registration of a
  
  transfer of the shares or other interest of a member in a company may be made
  
  either by the transferor or by the transferee.
  (2) Where the application is made by the
  
  transferor and relates to partly paid shares, the transfer shall not be
  
  registered, unless the company gives notice of the application to the
  
  transferee and the transferee makes no objection to the transfer within two
  
  weeks from the receipt of the notice.
  (3) For the purposes of sub-section (2),
  
  notice to the transferee shall be deemed to have been duly given if it is
  
  dispatched by prepaid registered post to the transferee at the address given in
  
  the instrument of transfer, and shall be deemed to have been duly delivered at
  
  the time at which it would have been delivered in the ordinary course of post.