shareholder in private company

prithwish sengupta (Querist) 03 June 2010 This query is : Resolved
can private trust be a shareholder in a private company. if yes then what are the requirements for the trust??and under which section of companies act?? is there any tax implication under income tax act?? respective case laws if any.

thanking you.

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Manish Singh (Expert) 03 June 2010
a trust, not being a legal entity, cant be a shareholder in any company.
although you can give shares to any trust which shall only act as trustees for the same.

soumitra basu (Expert) 03 June 2010
Provided in the trust deed there is specific provision that the trust can invest in company's share.

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