CAN PARTNER SHIP FIRM PURCHASE SHARE
10 Replies
Ankur Garg
(Company Secretary and Compliance Officer)
(114783 Points)
Replied 04 May 2010
A p'ship firm can not purchase shares of a company in its own name and cannot became member of a company due to its non-perpetual existance.
However partners of a firm may purchase shares of a company in their own name and became member of a company.
Nitin Singhal
(Gaining knowledge...)
(320 Points)
Replied 04 May 2010
Agree with Ankur Ji, In addition partners can hold shares on behalf of firm. If purchased out of firm's money
vikash rathi
(Chartered Accountant)
(787 Points)
Replied 04 May 2010
agree with ankur sir...partner ship firm can hold share on the name of his partner...here partner will be registered owner and firm would be beneficial owner
CA Ruben Balooni
(Professionalism ™)
(1324 Points)
Replied 05 May 2010
partnership firm can purchase shares of company licensed u/s 25 only!
Nitin Singhal
(Gaining knowledge...)
(320 Points)
Replied 05 May 2010
Yes, agree with gunmaster also
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 06 May 2010
Partnership firm cannot purchase shares in its name because it is not a legal entity in the eyes of law. Only the partners can purchase shares in their name.
Shridhi Jain
(Company Secretary)
(1678 Points)
Replied 16 February 2012
In case where any shares are held by partner of the partnership firm (on behalf of the firm) then, is there any compliance under companies act to be complied with?
Pls tell me, its urgent.
Ajay Mishra
(Company Secretary)
(74342 Points)
Replied 16 February 2012
Hi
A partnership firm is not a legal person and as such it can not, in its own name, become the member of the company. However, its partners may become joint shareholders of the company and their name be entered in the register of members. However, it can become member of section 25 company.
Regards
Ajay Mishra
Recent Topics
- Change of name on physical share certificates of P
- Workmen compensation insurance policy
- GST Revenue at All-Time High - A Genuine Growth or
- TDS On Purchase of Property by Firm
- Gst missing invoice in return
- Discuss and Download CA Inter Question Paper May 2
- Discuss and Download CA Final Question Paper May 2
- Issues On TDS Amount On Payment Of- Last Installme
- Looking for Help with Business Registration
- Two Buyers and One Seller - 1% TDS to be deducted
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
