can a trust be a shareholder in a private company???

prithwish sengupta (Querist) 10 June 2010 This query is : Resolved
can a private trust be a shareholderr in private company?? is there in any restriction on being a shareholder of a company??
is there any case law of a private trust become a shareholder of a private company??

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Girish Vaghani (Expert) 10 June 2010
Pl. refer to Sec. 153 of the Co. Act, 1956, which prohibits that name of the Trust cannot be entered on register of member.

However, a trustee acting on behalf of a registered Trust can hold the shares and give a declaration to this effect.

So a trustee can be a member/promoting representing the registered Trust and subsequent file declarations u/s 187 C

Regards,

Girish Vaghani.

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