17 September 2007
If a company is treated as a quasi partnership firm. what kind of voting rights will be executed in a general meeting i.e. will it be based on shares, as normally in a company, or will it be on number of partners. Also where can i get reference on this topic on the net. Thank you.
17 September 2007
There is no question of treating the company which has been registered as a company under the companies Act 1956 as a quasi partnership firm. As per the famous case of soloman and soloman, the company is distinct legal entity and is different from the members who constitute the company. the Voting rights are governed by the Table A if there is nothing int he articles of the company and it is generally based on the number of shares held by each member
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