Nominee Shareholder

[BIJAL SALOT]

Dear All,

Can any one help me on the following:

There is one Private Limited Company having two shareholder both are foreigners but the company has registered office in Mumbai.In this case Company requires to hold AGM in Mumbai only but the shareholder can not come to India. So, in this case can one shareholder transfer his 1 share to any Indian in the nominee capacity only.

please clarify the concept of nominee shareholder? How one can transfer share to other in nominee capacity.

Thanks & Regards,

Bijal  

[Venkat Ragavan]

Nominee shareholder  who holds shares on behalf of the actual owner (beneficial owner)under a custodial agreement.

A nominee shareholder will execute a declaration of trust in favour of the true owner of the shares, agreeing to exercise all voting rights and deal with the shares only in accordance with the instructions of the true ('beneficial') owner.  The name of the nominee shareholder then appears on all public records relating to the shareholding.

 

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[BIJAL SALOT]

Thank You Sir for your prompt reply.Can you tell me how one individual can transfer his share to other in nominee capacity.what is the procedure for such transfer as per Companies Act, 2013.

Thanks & Regards,

Bijal    

[Shweta Ghai]

Hi,

Can please let me know 

4/2/14

 one individual can transfer his share to other in nominee capacity.what is the procedure for such transfer as per Companies Act, 2013.Its urgent.

Thanks & Regards

Shweta