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Govt. servant can be shareholder in private limited company

VIKAS LAL PATEL (Practice) (77 Points)

26 August 2009

Whether a govt. servant can be a shareholder of private limited company?

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9 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114783 Points)
Replied 26 August 2009

Yes.

No restriction in law.

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Ashish M (Chartered Accountant) (2731 Points)
Replied 27 August 2009

WHY NOT .....?

1 Like

Arjun Mahadevan (Practising Company Secretary) (62 Points)
Replied 27 August 2009

A goverment servant can be a shareholder of a private limited company as there is no bar in law. But being a private company, the Board has to decide whether he needs to clarify his status. Government's do not bar a person from becoming a member.

Arjun mahadevan

1 Like

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 27 August 2009

A Government Servant can be Shareholder of the Company whether it is a Public Company or Private Company.

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Ankur Garg (Company Secretary and Compliance Officer) (114783 Points)
Replied 27 August 2009

If any law put any restriction then that would be against and contrary to the company law.

So A Government Servant can be Shareholder of any Public/Private Company.

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Ashish M (Chartered Accountant) (2731 Points)
Replied 27 August 2009

BUT THEN, CAN IT BE APPOINTED AS A DIRECTOR (WTD/PTD/OTHERWISE).............I THINK IT CAN'T????!!!

VIKAS LAL PATEL (Practice) (77 Points)
Replied 28 August 2009

It happened to my client , the Registrar has rejected form 1 by saying govt.servant cant be a subcriber to MOA

Krishna Marathe (Business) (47 Points)
Replied 13 September 2009

Originally posted by :Ankur Garg

SIr,

We are having patnership firm(Trading) since 2 years, doing well, and now wanted to go for manufacturing by forming a private limited company to get more persons & fund. Please suggest tthe procedure or any CA who can provide to complete procedure.

Thanks

Krishna

email: krishna.marathe @ gmail.com

ashok roy (partner) (22 Points)
Replied 15 July 2010

What is the procedure of revised annual return and what the fees (amount ) payable by us for the filling of revised for the annual meeting held on 30.09.2009. in which the transferred share during the period are not shown in the original return.