Company Shareholding
This query is : Resolved
10 November 2009
Dear all,
Could u plz tell me: Whether a partner in a partnership firm can become a beneficial shareholder (i.e. on behalf of a firm) in a private limited company. If yes, the relevant section
Secondly, would the investment be reflected in books of the firm or the partner in individual capacity.
Thanking you for your co-operation and awaiting for your responses
Could u plz tell me: Whether a partner in a partnership firm can become a beneficial shareholder (i.e. on behalf of a firm) in a private limited company. If yes, the relevant section
Secondly, would the investment be reflected in books of the firm or the partner in individual capacity.
Thanking you for your co-operation and awaiting for your responses
Ankur Garg
(Expert)
10 November 2009
As per my understanding a partner in a partnership firm can not become a beneficial shareholder (i.e. on behalf of a firm) in a private limited company.
Reason being p'ship firm is not allowed to become member of company directly or indirectly through nominee.
Reason being p'ship firm is not allowed to become member of company directly or indirectly through nominee.
10 November 2009
I also feel so, since 187C cannot be applied in the instant case.
M Prabhakar Menon
(Expert)
10 November 2009
Any person can be a beneficial shareholder including a firm the restriction is on trusts not firms.
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