Transfer of shares

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Radha (Querist)
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14 May 2010
Can a partnership firm hold shares in its own name.If not kindly prescribe the formalties to be complied for transferring the the shares in the name of one of the partners which is actually held on behalf of the firm?

Jagruti (CS)

Jagruti (CS) (Expert)
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14 May 2010 No, shares cannot be transfered in name of the Firm as it is not a leagal person as per Law , hence transfer can be made in name of partner on bealf of the firm as partner acts as an agent for the Firm.

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Ankur Garg

Ankur Garg (Expert)
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14 May 2010 Partly agree with Expert.

I think a partner can be a member of a company solely in his individual capacity and can not be a shareholder on behalf of a partnership.

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