Priti (Company Secretary) (96 Points)
08 June 2010Can there be more than 2 jointholders of a share of a Company??? If yes what is the maximum no. of jointholders of a share of a company????
Can all the partners of a firm jointly become a member of the Company??
Regards,
Priti
Bhavin Bhadra
(Job)
(174 Points)
Replied 08 June 2010
Dear Priti,
There can be more then two joint holders of the share of the company. There is no limit for that.
However dividend will be credited in the account of person whose name appears first in company's share register.
Partners may by mutual understading purchase share of the company in joint ownership. but it would not be considered that Partnership firm is acquiring share of the company.
Regards,
Bhavin Bhadra
Priti
(Company Secretary)
(96 Points)
Replied 09 June 2010
Thank You Bhavin for your reply
Still it is not clear to me because as per KR Chandratre one or more shares in a company, listed as well as non-listed, can be held by not more than three persons jointly.*
*Circular no 11/7/Stock Exchange/75 dated 12 February 1976 issued by the Ministry of Finance, Department of Economic Affairs, Stock Exchange Division, Government of India.
Regards,
Priti
Kumar
(Article)
(922 Points)
Replied 10 June 2010
Yes Priti u r correct...
Even a DP account cannot be opened by more than three person jointly
CAclubindia
