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Nominee shareholders

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 December 2010 when a limited comapny is incorporated it require 7 members to subscribed the memorandum of the company.can a company nominate 6 others shareholders and shown as 100% investment in the susidiary company irrespective of the fact that nominee are holding shares.
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CA Navin Jain

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CA Navin Jain (Expert)
12 December 2010 Yes a company can nominate 6 other shareholders to ensure the minimum number of shareholders.
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 December 2010 At the time of subscribing the MOA the nominee of the company does not show that they are the nominee of the comapny but in resoltuion passed by the comapny that the 6 nenbser are the nominee of the comapny and taking the shares on behalf of the comapny will company show the entire amount as investment including the shares of nominee.
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