Can partnership firm hold shares in company-urgent
This query is : Open
Dilshad Saifi
(Querist)
31 July 2017
A Company wants to issue preference share to a Partnership firm. To the best of my information, Partnership firm can't be a member in a Company. However A firm can hold the shares of the Company in the names of its partners either individually or jointly. My question is that If partner can hold shares as a nominee of partnership firm then besides MGT-6, is there any other compliance which is required to meet when all such shares are allotted to only one partner.
RICHA KUMAR
(Expert)
02 August 2017
Only partners can hold in their names, firm cannot have shares in the name of company! No other compliance
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