members are the owners ?

Yes shareholders or members of the company are the owners.

Only  Share holders of the Company who have registered their name in the register of memeber are the Owner of the undertaking of a Comapny.After dematerialisation of shares and securities the person whose name appears in the Depository's register /BENPOSE  on any perticular date are the memberes of the company of which shares are held by them and consequently they are Onwers of the Undetaking of a Company.

Correct me if i am wrong as i am a newbie in this subject. According to me members are different from shareholders.A person who initially owns a share & not having being registered in the depositories , and an employ having a share are shareholders but they may not be members at times..and one more thing they are not owner although we use the phrase "members and shareholders are the owners of the company" but this according to me is only used to show the influence that they (members and shareholders) make. Company is distinct from its members and shareholders, it have its own artificial legal personality , responsibility and bearings. The members and shareholders only help them to run as it cannot work by itself and they bear a significant influence in the company .The right to sue and be sued is only vested to the company and no one else for any purpose can be affected by the acts of it. They cannot take shelter of it as well. So the question is who is the owner of the company? Well the answer is no one , you can only buy the biggest influence in the company by shareholdings and by becoming a director......thnx

There is no definition of owner in Companies Act, 2013. But in section 216 they have used the words "Investigation of ownership of company". Section 216 says-

(1) Where it appears to the Central Government that there is a reason so to do, it may appoint one or more inspectors to investigate and report on matters relating to the company, and its membership for the purpose of determining the true persons—

(a) who are or have been financially interested in the success or failure, whether real or apparent, of the company; or

(b) who are or have been able to control or to materially influence the policy of the company.

Thus the matter is very subjective since shareholders, directors, promoters all are having financial interest in the success or failure of the company.

Owner in common parlance can be either shareholders or promoters, but since the word 'owner' is not defined under companies act, 2013, so its better not to use such term. 

Dear Gourab,

Inependent Director is a member of the Board, he is not memeber of the Company if, he does not hold share of the Company.