Dear Members,
Can any body tell me that whether preference shares are included in total no. of members in the limit of 50 in case of private limited company.
Its very urgent.
Pls reply.
2 Replies
CS Vijay Daxini
(At Practice)
(732 Points)
Replied 23 May 2013
Yes Preference Shareholder is Considered as a Member of the compnay provided he has in writing applied to become a member of a company and his name is enterd in the Register of member.
The Only conditions to be Fullfilled to become a member of a Company as per Section 41(2) is :
1. Application in writing to become a member of a compnay.
2. entry in the register of member as a member of the company.
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