SHARE ALLOTMENT

Minor can not hold shares but he/she can be a beneficiary, thus the shares may be held in the name of Mr. XYZ (Father & Natural Guardian) of Mr. YZ (minor)

I have already done that. Please ask your query.

Dear Sir,
 i wanted to know the procedure to be followed incase a private limited company has not allotted shares for more than 5 years. Can the applicant sue the directors? is there a prescribed time limit for the same?I understand that there is no time limit for a private limited company, however in this case , what would be remedy under law. Your prompt response would be greatly appreciated.Many thanx.

Since a minor is not competent to contract, so he cannot hold shares in his own name.However shares can be held on behalf of the minor, by his/her guardians and once he attains majority, the shares can be his own name.

Learned ,plz correct me if I am wrong.

Regards

Priya Sharma