Self Employed
436 Points
Joined December 2008
Agreed with Chirag, nicely replied, there is no concept of two person Company in the Companies Act, there can be either OPC or Private Limited Company or Public Limited Company and I have tried to solve your doubts as under:
1: There is nothing in the whole Companies Act regarding nominee of Director, there can be either Nominee Director appointed by the Board of Directors or Nominee in shareholding of any member (shareholder) of the Company.
2: As per my opinion, If Son becomes Nominee of Father's Shareholding or Second Joint Shareholder of Father's Shareholding then the shareholding of the Father will be transferred to Son upon demised of the Father, otherwise share transmission procedure needs to be carried out after father's demise and the matter will be decided based upon will and succession.