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)

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)

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)

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)

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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