RAHUL
(Company secretary )
(226 Points)
Replied 15 July 2009
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
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 15 July 2009
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
kamaljeet
(C.S)
(51 Points)
Replied 16 July 2009
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.
Varun
(ACS)
(128 Points)
Replied 23 July 2009
| 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? |
" |
Malav Shah
(Company Secretary and AVP Legal)
(171 Points)
Replied 23 July 2009
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
CAclubindia
