Can a society own shares in a company

Tarun (Querist) 18 May 2013 This query is : Resolved
Please let me know whether a Society registered under 1860 Society Act own shares in a company, Promote a for profit company, Give bank guarantee on behalf of a company?

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Khaleel Ahmed Mohammed (Expert) 18 May 2013
Yes , registered society can own not only shares but also all movable and immovable properties. In the legal sense registered society to be treated as person.

Raj Kumar Makkad (Expert) 20 May 2013
yes. The society has also a separate legal entity so it can do whatever you have asked.

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