Hi Everboby,
Please let me know. Can a LLP make share holder of a company.
Thanks
1 Replies
Smriti Dhawan
(Company Secretary )
(347 Points)
Replied 03 December 2011
A Limited Liability Partership cannot be shareholder of the Company except where the company is licenced under Section 25 of the Companies Act, 1956
As per CIRCULAR NO.4/72, DATED 9.3.1972.
A firm, not being a person, cannot be registered as a member of company except where the company is licensed under section 25, Companies which have firms registered as shareholders should be advised to take steps to rectify the position within a specified time.
This Circular will be applicable in case of LLP also as the basic feature with regard to entity of partnership firm are same.
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