Shares in fictitious name
This query is : Resolved
^^^ AJIT ^^^
(Querist)
29 November 2009
Mr. X applied for 100 shares in a company in a fictitious name. The company, unaware of the fact, allotted to him the shares in the fictitious name. Did Mr. X incur any liability under the Companies Act, 1956?
CS Mitesh Mehta
(Expert)
30 November 2009
Yes,
Imperisonment of terms which may be extended to 5 years or Fine which may be extended to Rs. 1 Lakh or both
Imperisonment of terms which may be extended to 5 years or Fine which may be extended to Rs. 1 Lakh or both
^^^ AJIT ^^^
(Querist)
30 November 2009
I thank you Expert for your quick reply. Regards.
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