varun 11 August 2015

Is guardian manage company with a will?

Is a person holding a 45% share in a private limited company is able to write a will of his shares to his minority son....with apponting a guardian..1)...is the gaurdian operate a company without other directors support with that will ?

2).if the guardian is rude to minority son ..how the rights of guardian is cancelled

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Advocate Rohit (Advocate) 11 August 2015

yes, you can give share by will to the minor. Guardian cannot operate the company as he is only the custodian of the shares on behalf of the minor child. Guradian needs to come on the board with the approval of the Board of Directors, if done so. a guardian can attend the meeting and can vote also. But cannot sell, pledge the shares or claim dividend and benefit in its own name, except in the name of minor only.

Regards

Adv. Rohit Dalmia

9324538481