Transfer of physical shares in the name of huf
Y.K. Gupta
(Querist) 16 April 2012
This query is : Resolved
Can shares of a public Ltd. company, which is listed in a Stock Exchange, be transferred in the name of HUF?
If yes, under which section/ provision of the Companies Act, 1956.
Regards,
Y.K. Gupta
Raj Kumar Makkad
(Expert) 16 April 2012
If shares are purchased by HUF in its name, it can very well is entitled to get it transferred in its name. No special provision is required to be cited for that purpose as this is not in the negative list.
prabhakar singh
(Expert) 16 April 2012
मेरी राय मैं मक्कड़ जी ने बिल्कुलसही फरमाया है.
Shonee Kapoor
(Expert) 16 April 2012
Nothing left to add.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
C. P. CHUGH
(Expert) 18 April 2012
Companies Act does not bar any person other than individua to hold shares in any public/private company. All jurisdictional persons such as Trust, Societies, Firms or body corporate and Huf are entitled to be enrolled as member of a company. However membership of all persons other than individuals is excercised through legally appointed representative (LRs) such as Karta in case of Huf, Director in case of Company, Partner in case of Firm and Office Bearear in case of Trust/Socieity and other jurisdictional Persons. No specific provisions are required in companies act in this regards.
