Profit partneship in pvt ltd co

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raj (Querist)
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21 June 2012 Dear all,
I have a query related to profit partnership in pvt ltd co.if a person is not a shareholder in the company (pvt ltd) then can he become a profit partner. If No is there any way round to be a part of profits rather then commission sharing agreement. Please advise

Ajay Mishra

Ajay Mishra (Expert)
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21 June 2012 Hi

No, only shareholders has right to share the profit by way of dividend and not any other person of the company.

raj

raj (Querist)
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21 June 2012 thanks for the reply but if a person is 100 % share holder of the company can he appoint other people for profit sharing by any way

Ajay Mishra

Ajay Mishra (Expert)
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21 June 2012 Hi

He can appoint nominee for it but the profit will goes to him only. A 100% holder will get the 100 profit after deducting legal deductions.

If you are transferring your stake then it will be possible otherwise not.

raj

raj (Querist)
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21 June 2012 thanks fo ryour reply just on emore question can this nominee enter into any kind of agrement with 100 % shareholder to distribute profit after the shareholder receives it

Ajay Mishra

Ajay Mishra (Expert)
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21 June 2012 Hi

No, the nominee can not share the profit, because it is representative for you. Section 187C deal with Nominee of shareholders.

Regards

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