14 July 2012
can trust become a subscriber of the converted company? OR can trustee of the trust become subscriber on behalf of the trust as a nominee?
14 July 2012
No a trust cannot be a share holders becoz a trust is not a legal person(Trust has no capacity to act and thus cannot acquire rights and create obligations with binding effect) A corporate Trust can be a Shareholder. A trustee can be a shareholder for himself not for the trust.
CAclubindia
