Counting of joint share holders in private limited company

only first name( one member ) in joint share certificate will be count for shareholder. 

But the folios when we enter the names in the register of members are different for Joint and Individual members as the name of members differs.....

In case of joint shareholding, one or more of them may require the company to alter or rearrange the serial order of their names in the register of members of the company. In this process, there will be need for effecting consequential changes in the share certificates issued to them. Since no transfer of any interest in the shares takes place on such transposition, the question of insisting on filing transfer deed with the company may not arise.