SHARES TO MINOR
This query is : Resolved
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?
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?
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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