Hello All,
If A and B are two directors and have subscribed shares of the company in their names as -
- A as Individual and A as HUF also.
- B as Individual.
Therefore, while counting the number of members will it be "two" or "three" members in total.
i.e. will A as Individual & HUF will be treated as joint holder or two different members.
Regards,
Binish
three
Dear Binish,
In this case when u count no. of members of the company A shuld be treates in dual capacity first as member himself and secondly as a kurta of HUF.
In short there are three member in total.
Thank you Praveen
Thank you Ajay sir.
THANKS MR AJAY JI
Ajay sir Is there any particular section in company law or any reference where i can find the related topic.
comments of other experts solicited,
Regards,
Binish
Dear binish you can refer Section 41 of the Companies Act in Ramaiya, where it is mentioned that a HUF can subscribe the shares of the Company though the shares may be registered in the name of the Karta.
So in your case A can hold shares in two capacities i.e one on his individual capacity and other on behalf of HUF of which he is Karta.
Thank you Kamaljeetji for the kind response.
CAclubindia
