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share holding of director

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(Querist)
27 December 2010 Dear sir,

When a proprietorship concern is converted to private ltd. co., is there any stipulation that the minimum no. of shares the proprietor shall hold in the pvt. ltd. co. must be atleast 50% of the entire shareholding for a specified period.

Regards,

Jyothi
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
27 December 2010 No. There is no such requirement. However majority shareholding will vest him with majority decision making powers.
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udit sharma

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udit sharma (Expert)
27 December 2010 Agreed with expert!
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