Transmission

This query is : Resolved

Prashanth (Querist)
Follow

30 June 2010 Whether minor can become a share holder through transmission?In such case whether is liable to pay any money on partly paid up shares which he has acquired through tansmission from his personal propery?

Rasesh

Rasesh (Expert)
Follow

30 June 2010 Minor cannot become shareholder. His guardian can become shareholder with benefitial rights in favour of the minor.

The guardian can pay the unpaid amount out of the property of the minor.

Prashanth

Prashanth (Querist)
Follow

01 July 2010 if minor doesnt have not have any property then in such case.Who has to pay the unpaid amount?

Upgrade to CAclubindia Pro. Subscribe Now!

Rasesh

Rasesh (Expert)
Follow

01 July 2010 The guardian may pay from his own property and collect the same from the minor once he attains the age of majority.

Message likes : 1 times

Prashanth

Prashanth (Querist)
Follow

01 July 2010 Thank U sir