No. of shareholders

Co Act 2013 997 views 2 replies
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37 Points Joined April 2014

Mr. X, as an individual, purchased shares of ABC Pvt. Ltd. and also Mr. X, as Karta of HUF, purchased shares of ABC Pvt. Ltd. As per Law in case of HUF shares are registered in the name of HUF so in this case all above mentioned shares are in the name of Mr. X. So my question is Mr. X will be counted as one share holder or two?

please also mention the provisions of such laws or cases regarding this question...

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On 30 October 2015 at 17:20 Report
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795 Points Joined July 2012

Dear Dipesh,

In case of HUF, the shares can be registered in the name of 'A' as Karta of HUF.

Vickers System International Ltd. v. Mahesh P. Keshwani (1992) 73 Com Cases 317: (1991) 2
Comp LJ 444 (CLB). Transfer of shares by HUF Section 108 [Corresponds to section 56 of the
Companies Act, 2013] enables the execution of a transfer deed by or on behalf of the transferor or
the transferee. In the case of a joint family, the transfer form would be executed by the holding
member or, in his absence, by the manager (Karta) of the family who represents the family. The
same would be true when the family is transferee. The CLB directed the company to register shares
in the name of the Hindu undivided family showing Mahesh P. Keshwani as its Karta.

If he holds shares (as personal capacity and not for HUF purpose) than it count different from his hold as a karta.

 

Regards,

Kalpesh

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On 31 October 2015 at 11:27
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37 Points Joined April 2014

thanks for the reply

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On 07 May 2016 at 14:04


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