As per Companies Act, 1956 it is mandatory for a private company to have minimum of 2 members, what will happen if a private limited company can’t fulfill this requirement for a time period of say - more than six months?
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COMPANY CAN NOT FORM WITHOUT FULFIL MINIMUM 2 MEMBERS LIMIT
I mean 2 say after incorporation by abiding the legal requirements at a future date the private company falls short of this criteria, what will happen then?
AFTER SIX MONTHS THE COMPANY WILL AUTOMATICALY DISSOLVED IF THIS CRITERA IS NOT FULFILED.
Hi
The reduction of number of members below the legal minimum is a ground for the winding up of the company.
Also Liability of member/s who are aware of this situation will be unlimited throughout this period.
Regards
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