Rahul Karan (PMS) 03 April 2015
What is the legal validity/condition required for two individuals to hold public limited shares jointly who are not related in any way? Do they need to have an agreement between them to show what percentage they hold and the payment details? And if they do not have any agreement, does only the first/sole holder have full rights over these shares and the second joint holder has no right? Please show me the Law written for this.
Advocate Ravinder (Advocate/Attorney) 04 April 2015
They will have equal rights.
T. Kalaiselvan, Advocate (Advocate) 07 April 2015
If the public limited shares are held jointly by two individuals, it is deemed that both of them equal rights whatsoever over the said shares. Until by an agreement between both about the percentage, there is no reason that one will be having more rights over the other.
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