can huf become shareholder of a company or karta should become member on behalf of huf.
thanks
Sanjayzany (practice) (39 Points)
10 September 2009can huf become shareholder of a company or karta should become member on behalf of huf.
thanks
HUF's name is entered in the Register of Members.
But the Karta is the signing authority.
If you need further clarification than contact me.
Ankur Shah (Practicing Company Secretary)
“Guru Gautam” Bungalow, Inside Parshwa Tower,
Nr. Shyamal Cross Road, 132ft. Ring Road,
Satellite, Ahmedabad – 15
Contact: + 91-9427633901
E-mail: ankurjewel @ gmail.com
Blog: csankur.blogspot.com
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 11 September 2009
Dear Sanjay,
As we all know that HUF has no legal capacity to become member of the Company or to keep share in its name. Its the karta who shall keep shares on behalf of HUF.
In the books of Company the registered owner will be the Karta as under:-
Shri X Karta for XYZ HUF
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 11 September 2009
Hi
Hindu undivided family (HUF) is represented by its Karta. The Companies Act does not prohibit membership of HUF. In case of HUF, the shares can be registered in the name of 'A' as Karta of HUF.
Regards
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