Pledging of Shares
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2010
Company "A" invested in company "B" and Company "B" invested in a Partnership firm "C". "C" has shares in Company "B". "C" has taken loan from "B" by giving its shares as security. Now "C" is in default.
My doubt goes this way:
1) Can a share holder pledge his shares against the loan issued to him by the company?
2) If yes, can the company forfeit the shares(Fully paid up)if the Shareholder is default?
3) If yes, can it reissue the shares to Company "A"?
My doubt goes this way:
1) Can a share holder pledge his shares against the loan issued to him by the company?
2) If yes, can the company forfeit the shares(Fully paid up)if the Shareholder is default?
3) If yes, can it reissue the shares to Company "A"?
09 November 2010
In my opinion, answer to all of ur questions is yes!
Message likes :
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Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2010
Thanks! Can you please support your answer. I mean any reference of sections form respective act/acts.
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