Section 10(1)
Rushabh joshi (23 Points)
15 August 2018
Can anyone plz give me explanation of this provision??
6 Replies
Santhosh Gundinahole
(Studnet)
(347 Points)
Replied 15 August 2018
Section 10 is Effect of Memorandum and Articles
Sub-section [1] of Section 10 is
Subject to the provisions of this Act, the memorandum and articles shall, when registered, bind the company and the members thereof to the same extent as if they respectively had been signed by the company and by each member, and contained covenants on its and his part to observe all the provisions of the memorandum and of the articles.
Simple meaning of this provision is-
The MOA & AOA, on its registration with ROC, shall bind the Company as well as member who subscribed to MOA/AOA during Incorporation of Company.
Sub-section [1] of Section 10 is
Subject to the provisions of this Act, the memorandum and articles shall, when registered, bind the company and the members thereof to the same extent as if they respectively had been signed by the company and by each member, and contained covenants on its and his part to observe all the provisions of the memorandum and of the articles.
Simple meaning of this provision is-
The MOA & AOA, on its registration with ROC, shall bind the Company as well as member who subscribed to MOA/AOA during Incorporation of Company.
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