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Q. Share market

Can practicing Advocate open Demate account to buy/sell shares & do it ?

Showing 8 of 8 Responses

A. For investment, yes.

ARPIT BATRA

Experience: 11 Year(s)

Responded 2 months ago

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A. Honest answer is yes. Any one can open demat account for invest money.even i have demat account as well.

Deepak Bade

Experience: 9 Year(s)

Responded 4 months ago

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A. No where it is defined that for an individual share trading is a business. No. 2 we all are free to invest in shares of the companies and create wealth for ourselves. That means even Advocate can do that. Not only that an advocate can also invest in partnership or any company's shares as promoter or founder but the important point is that the Practicing advocate cannot take any executive or managerial role and definitely no salary or remuneration at all. So you can be part of a business through shareholding (sleeping partner) but cannot be part of the operations or running of the business.

Abhimanyu Shandilya

Experience: 14 Year(s)

Responded 4 months ago

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A. Some are giving wrong guidance. I have a totally different opinion, he can do it for himself. It is investment, not business.

Prabhakara S K Shetty

Experience: 19 Year(s)

Responded 4 months ago

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Asif Asf

Experience: 1 Year(s)

Replied 4 months ago

Respective Sir,
Thanks for your answer.
Sir can I get any citation for the same ?
Or Some names of Advocate who do buying/ selling of shares in NSE, BSE ?
Because I had called to bar council of Gujrat to confirm it but they told read the etiquecy rules in Advocate act & if it is permissible in the rule then you can do but not giving specific answer in yes or no.

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Prabhakara S K Shetty

Experience: 19 Year(s)

Replied 4 months ago

A citation comes in when some one goes to Court on this on Bar Council objecting to such activity, What I say is that it is only investing. What you cannot do is earning commission by trading for others.

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A. Yes

ROBERT D ROZARIO

Experience: 15 Year(s)

Responded 4 months ago

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A. By advocate Rameshwor dadhe dear sir yes . It is not any buissnes it's only investment

Rameshwar Dadhe

Experience: 2 Year(s)

Responded 4 months ago

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A. Yes you can do that .

Rajeev RJ

Experience: 17 Year(s)

Responded 4 months ago

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A. Yes

Manjula Shanmugasundaram

Experience: 18 Year(s)

Responded 4 months ago

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Asif Asf

Experience: 1 Year(s)

Replied 4 months ago

Respective Madam,
Thanks for your answer. Sir can I get any citation for the same ? Or Some names of Advocate who do buying/ selling of shares in NSE, BSE ? Because I had called to bar council of Gujrat to confirm it but they told read the etiquecy rules in Advocate act & if it is permissible in the rule then you can do but not giving specific answer in yes or no.

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