Section - 399 - Companies Act, 1956

Section - 399 - Right to apply under sections 397 and 398

Right to apply under sections

and

399. (1) The following members of a company shall have the right to apply under section

:—

(a) in the case of a company having a share capital, not less than one hundred members of the company or not less than one-tenth of the total number of its members, whichever is less, or any member or members holding not less than one-tenth of the issued share capital of the company, provided that the applicant or applicants have paid all calls and other sums due on their shares;

(b) in the case of a company not having a share capital, not less than one-fifth of the total number of its members.

(2) For the purposes of sub-section (1), where any share or shares are held by two or more persons jointly, they shall be counted only as one member.

(3) Where any members of a company are entitled .... To read the full section download the app from Google Play store