Membership in section 8 companies
Chartered Accountant Sivakumar (164 Points)
19 April 2021
Can a section 8 company be a member of another section 8 company?
Chartered Accountant Sivakumar (164 Points)
19 April 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 19 April 2021
Yes, under the Companies Act, 2013, a Partnership firm or an LLP can become the member of Section 8 Company. The provisions of respective Acts need to be complied with by the partnership firm or LLP as the case may be.
https://www.icsi.edu/media/webmodules/publications/FAQs_on_Section_8_Companies.pdf
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 19 April 2021
Can shareholder of section 8 company be a director of the same?
Yes, there is no specific prohibition on such appointment as director.
Can a Section 8 Company be amalgamated with a company which is not a Section 8 Company?
No. Section 8(10) provides that a company registered under section 8 shall amalgamate only with another company registered under section 8 company and having similar objects.
In view of section 8(10), Section 8 Company cannot be amalgamated with a company which is not a Section 8 company.
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