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        Companies Law

        Public trustee ‑ Whether the section becomes attracted if society holds shares in trust

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        Shares held in trust by a registered society trigger application of the public trustee provision. Section 187B is attracted only when shares in a company are held in trust by a person; a society registered under the Societies Registration Act, 1860 is a person, and therefore if such a society holds shares in trust the section applies, but not otherwise.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Shares held in trust by a registered society trigger application of the public trustee provision.

                                Section 187B is attracted only when shares in a company are held in trust by a person; a society registered under the Societies Registration Act, 1860 is a person, and therefore if such a society holds shares in trust the section applies, but not otherwise.


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