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Share Application and Allotments

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 February 2011 Hello friends,

My question here is whether a partnership firm can apply for equity shares in a company and whether company can make allotment to Partnership Firms.
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
10 February 2011 Yes, Partnership firm can be a shareholder of a company.
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
10 February 2011 As I understand, partnership firms cannot become shareholders of the Company. The shares are to be held by the partners in their joint names.
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
10 February 2011 A shareholder may be a person, firm or company.
There is no bar on firm to hold the shares of a company.
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