Share transfer and agreements
I need advice on below situation.
(note: the names are only used for representative purpose, and do not have any resemblance or association with any real person).
Earlier Sandesh and Yogesh formed a Pvt Ltd company with 50-50% sharehold each as per AoA and MoA.
Sandesh and Yogesh were first directors if the company.
Then Ganesh entered in the team as a shareholder and director, and got 20% shares.
The sharehold ratio earlier now became - Sandesh 40%, Yogesh 40%, Ganesh 20%
The documentation done here was :
A) Consideration amount was paid by the buyer
B) and share certificate was made properly here with transferor and transferee signatures and company stamp.
C) the sharehold ratio was mentioned in an agreement (the agreement was on plain word digital file with digital signature).
Later Ganesh demanded 10% additional shares.
Documentation done here :
An amendment page on the existing agreement was made with an additional table of sharehold ratios i. E.
Sandesh 35%, Yogesh 35%, Ganesh 30%.
(the agreement was again on word digital file with digital signature).
No consideration fee was paid nor any legal share certificates were made in this event.
My question is,
1) Does event 3 mean that shares are actually transferred?
2) Is the agreement binding on the transferee? can the receiver of shares i. e. Ganesh deny buying new shares now?
3) is the agreement binding on the transferor? I. E. can the seller of shares i. e. Sandesh and Yogesh deny selling the shares now?