GP Kesarwani (article assistant) (29 Points)
15 September 2010as per section 41 of corporate law, a person can be a shareholder,
but no defination given,
please clarify whether PARTNERSHIP FIRM CAN BE A SHARE HOLDER OR NOT.
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 15 September 2010
Dear Friend
Section 41(2) provides that only a person can be member of a company who has agreed in writing to become a member and whose name is entered in the register of members.
As per Department’s Circular No. 4/72, dated 9-7-1972, it has been clarified that “a firm” not being a person, can not be registered as a member of a company.
Regards
CS Ajay Mishra
CAclubindia
