Can the following persons or institutions become member of a company under the provisions of Companies Act, 2013: (iii) HUF.
CS Executive · Company Law · PYQS · December 2023
Can the following persons or institutions become member of a company under the provisions of Companies Act, 2013: (iii) HUF.
Answer & Explanation:
HUF is not a juristic person, although it is a person for purpose of the Income Tax Act, 1961. HUF is represented by its Karta. There is no legal bar on HUF to invest its money in shares and securities and the Companies Act does not prohibit membership of HUF. In case of an HUF, the shares can be registered in the name of Karta of HUF.
Topics: Membership
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