Can a trust become a shareholder under companies act, 2013?

[Arunima Santuka]

Hello everybody,

Greetings!

I would be very grateful, if any of you could give an answer to this query.

 Under Companies Act, 1956 Section 153 clearly stated that a trust cannot hold shares. But there is no such corresponding section in the new Act. 

Thank You in advance.

Regards,

Arunima Santuka.

[ACS suresh chaudhary]

"Under Companies Act, 1956 Section 153 clearly stated that a trust cannot hold shares".......... no section 153 didnt say that it says that trust not to be entered on register of member.Read further sections and trustees rules 1964.Trustee can hold shares on behalf of trust.

[Arunima Santuka]

Dear Sir,

Trust you to be well.

Thank you for correcting me. Your reply was very helpful.

Regards,
Arunima Santuka.

[CS Chandru]

Hi Suresh, I just read above conversion on similar topic I am working on currently. In my case, there is Alternate Investment Fund which is registered under SEBI Alternate Investment Fund Regs 2012 and formed as registered Trust. 

Can that fund hold shares in its name and not in the name of its trustee? In case of depository system, Demat account can be opened for a registered trust (need not in name of its trustee) and deposit e-shares to its account. In that case, it should be possible even in case of physical shares. Pls clarify

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Thanks & Regards

CS Chandrashekhar

+91 9743148312

 

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[Narayan Subramanian]

Dear Member

The trust can be the member of Company and can hold shares. I have just given below the promoter shareholding of Tata Motors which has trust names as shareholders.

Regards

S.Narayan

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[CS Chandru]

Thanks Narayan

[ghose.s...@gmail.com]

How to transfer shares held in the name of a trust to the name of its trustee?

Pls guide.

On Friday, June 16, 2017 at 3:26:32 PM UTC+5:30 Chandru wrote:

Thanks Narayan

On Fri, Jun 16, 2017 at 11:32 AM, Narayan Subramanian <csnar...@gmail.com> wrote:

Dear Member

The trust can be the member of Company and can hold shares. I have just given below the promoter shareholding of Tata Motors which has trust names as shareholders.

Regards

S.Narayan

On Tue, Apr 14, 2015 at 1:53 PM, Arunima Santuka <aruni...@gmail.com> wrote:

Hello everybody,

Greetings!

I would be very grateful, if any of you could give an answer to this query.

 Under Companies Act, 1956 Section 153 clearly stated that a trust cannot hold shares. But there is no such corresponding section in the new Act. 

Thank You in advance.

Regards,

Arunima Santuka.

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