Hi,
My doubt is whether minor can be a member of a Company under Companies Act, 2013 ? What are the various conditions that are required for a minor to be member of a company?
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Doubt - minor as a member of a company
Replies (4)
a minor cannot become a member by direct subscripttion of shares.this is based on the principle of an agreement with a minor is ab-initio void (Mohiri Bibi vs. Dharmados Ghose). However he can become a member on transfer or transmission of shares made in his favour and for his benefit provided the transferred or transmitted shares are fully paid and no liabilty is attached to them.
Related case laws:
1. Palaniappa vs. Official Liquidator.
2.Nandita Jain vs. Bennet Coleman & Co. Ltd.
3. Diwan Singh vs. Minerva Films Ltd.
Is there any change as per new Companies Act, 2013. Or it is same as it was in Companies Act, 1956?
the above sent message is as per Companies Act, 2013
Thanks a lot....
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