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    Joint Shareholders

    Posted By : damini / Published on : 18-Mar-2020 06:20 AM / View : 644 / Comment : 0

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    FACT OF THE CASE

    ABC, a partnership firm holds 10,000 equity shares of XYZ Private Limited (incorporated in 2015), through its 5 partners equally. Each partner was allotted with a separate Folio no. but the Company considered to count them as a single shareholder. Thereafter in Feb, 2016 the Company has allotted further shares to only 4 partners in an equal ratio and in Sept, 2016 the shares of 2 partners has been transferred/ transmitted to rest of the 3 partners.

    As on date there are 5 partners in ABC, a partnership firm and only 3 partners are holding shares in a XYZ Private Limited in equal ratio.



    Please note that the company has filed all upto date Annual Financial Statements and Annual return with the shareholding pattern which looks like A, B,C, A (through partnership firm), B(through partnership firm), C (through partnership firm) having different folio numbers.



    QUERIES



    Can each partner have different folio nos. and if yes, how many votes will be casted by ABC, a partnership firm.?
    Can we allot shares to particular partner.?
    Do we need to file MGT-6 in this regard.?
    Who will sign the declaration on behalf of Beneficial Owner.?
    If we merge all the folio numbers of Partnership firm to one folio number say Joint Shareholders, do we need to go to NCLT?
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