In case of Joint shareholders, one or more of them may require the company to alter or re-arrange the serial/order of their names in the register of members of the Company. In this process there will be need for effecting consequential changes in the share certificate issued to them.
The request of transposition may be duly considered and approved by the Board of Directors. Since no transfer of interest in the shares taken place, the question of insisting on filing of share transfer deed may not arise. Transposition does not require stamp duty also.
To conclude there is no need to execute share transfer deed for transposition of name if the request for change in the order of names was made in the writing.