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Shareholding in pvt ltd company under companies act 2013

Co Act 2013 159 views 1 replies

saroj kumar jain

72 Points Joined July 2010

Hi Everyone, Can any one clearify that in a Pvt Co. can a share holder hold 99% on behalf of a foreign company and 1% on his own name? For example: Indian Pvt Company X, Y an NRI individual and Z is a foreign Company. In this case can Y hold 99% shares of Co. X on behalf of Co. Z and 1% on his (Y) name?

If possible please refer relevant section or rule.

Thanks....

Replies (1)

P C Agrawal

Registered independent director Past Ch

8229 Points Joined March 2007

What do you mean by holding shares on behalf of foreign company? Foreign co. can hold the shares in its own name. In case of declaration of beneficial interest refer Sec.89 and rules framed thereunder. You should also ensure compliance of provision relating to quorum for general meetings.