SHARES TO MINOR

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Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2009 CAN PARTLY PAID UP SHARES BE ALLOTTED TO A MINOR?? ANY CASE LAW OR SECTION REFERENCE IN THIS REGARD?

CA Chandra Kishore Bajpai (Expert)
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10 December 2009 Partly paid shares can not be alloted to minor ss he is not a cpetent person to enter into contract.

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2009 CAN FULLY PAID UP SHARES BE ALLOTTED TO A MINOR?? ANY CASE LAW OR SECTION REFERENCE IN THIS REGARD?

Aditya Maheshwari (Expert)
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10 December 2009 Yes. however the shares are registered in the name of the guardian. Eg; Mr. ABC guardian of Mr. POR (minor)

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