Transfer of shares

This query is : Resolved

Radha (Querist)
Follow

14 May 2010
Can a partnership firm hold shares in its own name.If not kindly prescribe the formalties to be complied for transferring the the shares in the name of one of the partners which is actually held on behalf of the firm?

Jagruti (CS)

Jagruti (CS) (Expert)
Follow

14 May 2010 No, shares cannot be transfered in name of the Firm as it is not a leagal person as per Law , hence transfer can be made in name of partner on bealf of the firm as partner acts as an agent for the Firm.

Message likes : 1 times

Ankur Garg

Ankur Garg (Expert)
Follow

14 May 2010 Partly agree with Expert.

I think a partner can be a member of a company solely in his individual capacity and can not be a shareholder on behalf of a partnership.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

mohammad.asraf

yogesh korani

xavier

sinu kurian

SHIBSANKAR DEY

Subscribe Now

Transfer of shares

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Senior Executive

Accountant

Manager- Finance and Compliance

CA Final

GST CONSULTANT