HUF become subscribers to memorandum

[csarengarajan]

Dear All

 

I am positing one clb judgment on karta become subscribers to memorandum. Can any body tell that different views other than CLB judgment.

 

HUF is not a person to be subscriber. but it can be represented by its karta. In the case of HUF, the shares can be registered in the name of karta of HUF - VICKERS SYSTEM INTERNATIONAL LTD VS MAHESH P KOTWANI (1991) 6 CLA 3 (CLB)

 

Reades view invited on the above subject

[Priti Astarag Patnaik]

Deal All,

 

as per the Act HUF is neither a natural nor a legal entity. so it can not be subscriber to the MOA.

 

What is the position of a HUF in case of membership of the company is concerned.

Can it hold shares of the company ?

 

 

 

Legally shares can be registered in the name of the karta of HUF.

 

 

In the register of members of any listed company we can find so many names of shareholders like

 

PAWAN KUMAR POKHRAJ(HUF)

 

My question is that if PAWAN KUMAR POKHRAJ is the karta of the HUF and he holds shares on behalf of the HUF , then it should appear in the register of members as PAWAN KUMAR POKHRAJ not as PAWAN KUMAR POKHRAJ(HUF).

 

Can any body explain the reason?

--
with regards,

Mr. Priti Astarag Patnaik