did not understand sec106 please give the explanation for the same
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106 doubt
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this section first of all is not applicable on private Ltd cos, unless article specifies contrary.
The section says a member is not entitled to vote in case he has not fully paid the value of shares or lien has been created in the shares.
e.g. A has 10 shares of Rs 10 each. For these 19 shares he has partly paid 5 Rs and rest 5Rs are unpaid. then such member shall not be entitled to excercise his voting right on the 10 shares.
The section says a member is not entitled to vote in case he has not fully paid the value of shares or lien has been created in the shares.
e.g. A has 10 shares of Rs 10 each. For these 19 shares he has partly paid 5 Rs and rest 5Rs are unpaid. then such member shall not be entitled to excercise his voting right on the 10 shares.
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