agree with chirsto
Max Payne
(employed)
(2569 Points)
Replied 10 February 2010
Dear Ankit and Vatsalya,
Christo is correct, but it need not be always hold true
He is talking about deemed membership in the company by subscribing MOA.... in section 41.
https://www.vakilno1.com/bareacts/companiesact/s41.htm
Also he is talking abt sec 254, a person can be treated as director of the company, where the company is in default, where such a person has subscribed to the MOA. But such a person is treated as director, only if directors are not properly appointed as per sec 255.....
https://www.vakilno1.com/bareacts/companiesact/s254.htm
Thus a person becomes member by just signing MOA and sometimes and director without really intending to be director...
But he is a director cos he is a member and not a member cos he is a director! So christo is slightly off the mark.....
Regrds
Amey Arte
(CA Final Student)
(160 Points)
Replied 10 February 2010
A Director need not be a shareholder, unless required by the Articles.
He can also act in his professional capacity as a non executive director.
But if he has subscribed to the Articles and memorandum he is a member of such company. this can happen in case he acts as a promoter of that company.
I hope u r clear now.
Amey Arte
(CA Final Student)
(160 Points)
Replied 10 February 2010
A Director need not be a shareholder, unless required by the Articles.
He can also act in his professional capacity as a non executive director.
But if he has subscribed to the Articles and memorandum he is a member of such company. this can happen in case he acts as a promoter of that company.
I hope u r clear now.
kirti arora
(CS, CA IPCC)
(45 Points)
Replied 10 February 2010
A director who donot hold qualification share or other wise purhcase share of the company can not become a member of the company.
kirti arora
(CS, CA IPCC)
(45 Points)
Replied 10 February 2010
A director who donot hold qualification share or other wise purhcase share of the company can not become a member of the company.
CA Ankit Totla
(Practicing Chartered Accountant)
(469 Points)
Replied 10 February 2010
a person b'cums a member wen his/her name is thr in the register of members.. which is onli poss wen the person is a shareholder..!!!!!
First!!!!
(student)
(162 Points)
Replied 10 February 2010
A Director has to purchase the qualification shares only if the Articles of the Company provide for the same. If the Articles of the Company donot provide the requirement for purchase of Qualification shares to become a Director, in that case he may or may not hold the shares of the Company.
The Director is a member only if he is holding shares of the Company.If he doesnot hold shares of the Company he is not the member of the Company.
First!!!!
(student)
(162 Points)
Replied 10 February 2010
A Director has to purchase the qualification shares only if the Articles of the Company provide for the same. If the Articles of the Company donot provide the requirement for purchase of Qualification shares to become a Director, in that case he may or may not hold the shares of the Company.
The Director is a member only if he is holding shares of the Company.If he doesnot hold shares of the Company he is not the member of the Company.
mahendra singh jhala
(pcc)
(56 Points)
Replied 10 February 2010
Its allso depend on members registar. in which name are enterd of members those not have share in company in special cases .and if the director have name in registar even hi is not have any share he can become member ......but only in some extra ordinary case .
| Originally posted by : ABCDEF | ||
 |
A Director has to purchase the qualification shares only if the Articles of the Company provide for the same. If the Articles of the Company donot provide the requirement for purchase of Qualification shares to become a Director, in that case he may or may not hold the shares of the Company. The Director is a member only if he is holding shares of the Company.If he doesnot hold shares of the Company he is not the member of the Company |
 |
agree with ABCDE..........
preeti
(student)
(143 Points)
Replied 10 February 2010
I agree with the views of vats, christo, ABCDEF, ankit, Mr. jhala. Thanks to all.
saumya
(Article)
(22 Points)
Replied 10 February 2010
Dear Vatsalya
Sec 266 provides that, neither anybody's name will be mentioned among proposed directors nor will anybody act as a director of the public company unless he submit his consent in writting to the registrsr and agrees to take his qualification shares if any. When a director files an undertaking of this kind with the registrar to take his qualification shares he also automatically becomes a member of the co.
Sec 41 the subscribers of the MOA of the co. shall be deemed to have agreed to become the member of the co.
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