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Allotment of equity shares

This query is : Resolved 
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(Querist)
08 October 2013 Dear Sir,
Can we issue equity shares to a proprietorship firm.
in the name of firm only or we need to issue on the name of proprietor.
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Arun Biyani

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Arun Biyani (Expert)
08 October 2013 No.. it should be then in the name of proprietor..
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
08 October 2013 https://www.rbi.org.in/scripts/BS_CircularIndexDisplay.aspx?Id=8104
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SAMADHAN SHRIRAM

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SAMADHAN SHRIRAM (Expert)
08 October 2013 Partnership firm as a member:
A partnership firm is not a legal person and
as such it cannot, in its own name, become a member of a company except in
company registered u/s 25 of Companies Act.

Proprietorship firm can not become member, it should be name of the proprietor
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