CA Bharat Nakrani (Professional) (46 Points)
06 January 2012Can Shareholder/Director contribute his personal assets to Pvt Ltd Co.
Example - Company is in business of Real Estate.
Now Shareholer want to transfer a land in the name of company, so company can develop and sales further.
Is it possible, if yes then any resolutions required or how accounting and taxes will be in Individual and Company hand.
Charu Srivastava
(Company Secretary)
(4210 Points)
Replied 06 January 2012
Yes the Director or Shareholder can transfer his property with the Company because Company has a separate legal entity and can enter into contracts.so proper agreements should be executed and resolutions passed.
CAclubindia
