Status of Minor in Comapnies Act or Other in other Law
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2010
Dear All,
Can anybody explian me the status of Minor in Companies Act, 1956 and in other law..?
Can anybody explian me the status of Minor in Companies Act, 1956 and in other law..?
03 December 2010
Minor can not become shareholder of a company. However he can be a transferee of fully paid shares.
As per Indian laws Minor is not eligible to enter into a contract or he in considered as incompetent to enter into a contract.
Regards
As per Indian laws Minor is not eligible to enter into a contract or he in considered as incompetent to enter into a contract.
Regards
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Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2010
then sir whose is to be mention in register of memebers.
can we mention minor name or their gurdian?
can we mention minor name or their gurdian?
03 December 2010
See allotment to minor is recognised in law by one way...
You may allot the shares in the name of guardian on behalf of minor.
You may use the following way to enter name in register...
Vadana Gupta (Acting through her Guardian Ms. Anu Gupta)
Regards
You may allot the shares in the name of guardian on behalf of minor.
You may use the following way to enter name in register...
Vadana Gupta (Acting through her Guardian Ms. Anu Gupta)
Regards
03 December 2010
A minor can 't become the shareholder of the company nor share can be transfer in his name .
03 December 2010
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.
Courtesy :- Secretarial standards of ICSI.
04 December 2010
Dear Warrier sir
But in that case also the name of minor will not be in the register or index of shareholder , plz comment .
Dear Warrier sir
But in that case also the name of minor will not be in the register or index of shareholder , plz comment .
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