07 January 2013
Hi Friends....Can you please tell me the procedure for admission of new members in Sec. 25 companies?? And also the procedure for cessation of existing members...
Appoint him in Board meeting or general meeting and file Form-32 with ROC.
Provisions of section 303(2) will not apply to section 25 company, regarding filing of return in Form-32 for change in directors, managing director manager or secretary within 30 days of such change to ROC.
But articles has no provisions for the same. It only says that member can cease or be removed and new members can be added. No procedure has been described.
In that case, is a letter of cessation from the members sufficient?? And a consent letter from new members sufficient for their admission??
And do the company has to pay any amount when the member cease to be a member of a company??
CAclubindia
