Shareholder being a unregistered trust
This query is : Open
21 February 2014
Dear all,
can a unregistered trust be a shareholder in a private limited company ??
further , if yes , whether the Trust can gift the shares to the Trustee of that trust through Gift Deed ??
can a unregistered trust be a shareholder in a private limited company ??
further , if yes , whether the Trust can gift the shares to the Trustee of that trust through Gift Deed ??
21 February 2014
An unregistered trust can of course hold shares in a private limited company. However, the trust can hold the shares in the name of the trustees which may be individuals, corporations, companies or societies registered under the Societies Registration Act.
Further, the corpus of the trust is to be disposed/utilized/distributed in accordance with the terms of the trust deed and for the benefit of beneficiaries defined therein. Trustees have a fiduciary duty towards the trust property.
Further, the corpus of the trust is to be disposed/utilized/distributed in accordance with the terms of the trust deed and for the benefit of beneficiaries defined therein. Trustees have a fiduciary duty towards the trust property.
21 February 2014
Dear Shakti ,
Whether the trust can hold the shares in its own name...?? and not on behalf ??
and can it transfer the shares in name of its trustee, who is already a shareholder in that private limited company ??
Whether the trust can hold the shares in its own name...?? and not on behalf ??
and can it transfer the shares in name of its trustee, who is already a shareholder in that private limited company ??
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Application of 115BAC
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
