Allotment of shares to parnership firm

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Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2011 A private ltd. co.has alloted shares in the name of partnership firm.
form 2 filed and approved by ROC.

how to rectify this mistake?

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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03 August 2011 Cancel the alotment and make fresh allotment. Again file Form-2 in the new names.

Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2011 can i file form 67 - addendum or it should be rectify while filling annual return?????

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 August 2011 Transfer the shares in the name of an individual and exercise section 187C of the Companies Act,1956.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 August 2011 Form 67 can't be filed suo-motu for an e-form which is "approved". It can be filed if and only if the status of the e-form is "pending for user clarification" commonly called as PUCL.

Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2011 As per companies act partnership firm is neither a legal entity nor it is a person and shares can not alloted in the name of partnership firm.
section 187 C is not applicable bcz it is "Declaration by persons"
how can a firm transfer its shares when he dnt have a right to hold it????

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 August 2011 I know that and the circular is here under.

A partnership firm ,not being a person, cannot be registered as a member of a company except where the company is licenced u/s 25 of the Companies Act,1956.

ref :- Circular 4/72 dated 9/3/1972.

But I have given only a link to the way out for your thought and for comments from other experts.

Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2011 thank u sir

can i rectify this mistake by annual return???

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