Existence of Private Company

239 views
User Avatar

20 Points Posted on 22 September 2020
Four persons are the only members of a private company. All of them go for trip in a car. and due to an accident all the four die. Then does the private company exist..????
0 Reply Share Follow
On 22 September 2020 at 20:57 Report
Replies (3)
Quick Summary
This discussion explores the legal standing of a private company when all its four members perish in an accident. The consensus is that the company, as an artificial legal person, continues to exist. Ownership of shares would then pass to the legal heirs through a process called transmission of shares, ensuring the company's continuity.

User Avatar

20 Points Posted on 22 September 2020
Yes... As company is an artificial individual person.. in this case legal heirs of the members will be the new members of the company, by way of transmission of shares.
Reply
On 22 September 2020 at 23:19
User Avatar

20 Points Posted on 24 September 2020
Thank You
Reply
On 24 September 2020 at 15:43
User Avatar

delhi
20 Points Posted on 24 September 2020
Yes transmission of share should be done
Reply
On 24 September 2020 at 23:47

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Section 87A
  2. GST on Transport
  3. Which software to buy
  4. Property Selling and buying
  5. Office Management System
  6. Can I pursue articleship alongside a regular full-
  7. Investment fund's income from ncd distribution to
  8. Comparative BS PL with Audit report
  9. Source of funds in IT returns
  10. Work from home job

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details