Conversion of partnership firm in private company under ch-9
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2012
can trust become a subscriber of the converted company? OR
can trustee of the trust become subscriber on behalf of the trust as a nominee?
can trustee of the trust become subscriber on behalf of the trust as a nominee?
14 July 2012
No a trust cannot be a share holders becoz a trust is not a legal person(Trust has no capacity to act and thus cannot acquire rights and create obligations with binding effect)
A corporate Trust can be a Shareholder.
A trustee can be a shareholder for himself not for the trust.
A corporate Trust can be a Shareholder.
A trustee can be a shareholder for himself not for the trust.
Message likes :
1 times
15 July 2012
yes I am admitting the views of mr Taher
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