Profit partneship in pvt ltd co
This query is : Resolved
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
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
(Expert)
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.
No, only shareholders has right to share the profit by way of dividend and not any other person of the company.
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
(Expert)
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.
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.
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
(Expert)
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
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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