company act
This query is : Resolved
06 December 2010
The Articles of a company provided that the shares of a member who became
bankrupt would be offered for sale to other shareholders at a certain price. Is
the provision binding on the shareholders?
bankrupt would be offered for sale to other shareholders at a certain price. Is
the provision binding on the shareholders?
06 December 2010
Nope, i dont think so. As shares can be forfieted only if shareholder fails to pay any call amount, that to as well, after giving proper opportunity to shareholder of being heard..... Moreover, if shareholder has already paid his all amount due, no company can enforce him to sell his shares or transfer by any means.....
Message likes :
1 times
17 December 2010
Agree with expert...
It is against the provisions of company law, 1956. Kindly refer section 9 of the sais act.
Thanks
It is against the provisions of company law, 1956. Kindly refer section 9 of the sais act.
Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Tax on Deemed Capital Gain
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
