12 May 2015
There are two shareholders in a company. Mr. A holds 98% of shares and Mr. B holds 2%. Now Mr. B intends to sell his holding to Mr. A, which makes him 100% shareholder in that company. Is this possible?
The company cannot convert itself to one person Company as its paid up share capital is more than 50 lakhs and T/o is more than 2 Crore.
my query is, can the concept of nominee shareholder be applied here? If yes, what is the practical implication of it?
14 May 2015
I think Nominee concept does not apply here. Practically, you can transfer one share to his/her relative. That would be perfectly possible.
CAclubindia
