1. A person who is a emp. of a P. Ltd. company having shares in the same company but after his ceasing he buy more shares of the same comp.
what about his membership according to sec. 3 (1) (iii) ?
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Dear Varun
Regarding your query sec3 is apply . If you read section 3(iii) you get answer your problem. According to my opinion an employee is not include in 50 if he has continue member of company. if he is not held continue membership in company after his resign and purchase shares after this his membership inculde in 50 if you have any dout in this regard or another matter you send mail. on my email.id. My email.id is nitinagarwal113 @ gmail.com
Regard
CSNITIN
Employees and Ex employees are not covered in the limit of 50 members. But he remain member of the company even if he is not an employee of the company now.
Regards
Hi All,
I totally agree with Mr. Ankur, though the person is no more employee of the Company but he is still a member of the Company as per the provisions of Section 3(1)(iii) of the COmpanies Act.
| Originally posted by :Varun | ||
| " |
1. A person who is a emp. of a P. Ltd. company having shares in the same company but after his ceasing he buy more shares of the same comp. then how could be the director be said to be its member? |
" |
Hi Varun,
In my opinion, even though employee purchases further shrares, his status as member doesnot change. He will not be counted for the limit of 50 members.
Regards
Malav
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