Minor to be shareholder
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 October 2012
Can a minor become shareholder of a private limited company even though he cannot enter into contracts?
03 October 2012
Generally no.
But in special circumstances, can be.
eg :-In case the Nominee is a Minor, on death of the shareholder during the minority of the Nominee, the Shares should be transmitted to the Minor under the guardianship as mentioned in the nomination form till the Minor attains majority. However, the beneficial interest will be with the Minor.
Courtesy :- Secretarial standards of ICSI.
But in special circumstances, can be.
eg :-In case the Nominee is a Minor, on death of the shareholder during the minority of the Nominee, the Shares should be transmitted to the Minor under the guardianship as mentioned in the nomination form till the Minor attains majority. However, the beneficial interest will be with the Minor.
Courtesy :- Secretarial standards of ICSI.
03 October 2012
Agreed with the reply
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 October 2012
can he be preference shareholder?
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