Deepak Rajaram Patil (Compliance Executive) (24 Points)
03 September 2011Whether Trading Account can be opened in Minor Name ?
As per the provisions of Contract Act, minor can entered into contract so he can not open trading Account, is there any specific clarification/circular issued by SEBI or Exchange in this regard.
CS Bijoy
(Expert)
(6394 Points)
Replied 13 September 2011
Trading account means there business is involved and in business liability is involved and minor cn not have any liability but can become part of the benifit as a pertner.
Gil Burt
(admin)
(38 Points)
Replied 19 September 2011
Its a very good thing that making account .......but it should be business liability.
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