Niharika (-) (109 Points)
10 December 2011state the consequenses in each of the following
1.a pvt co. has 60 members in total of which 10 are the employees of the company .5 of these leave the employment of the company.
2.A pvt. co. has 20 partners, incl.a pvt.co. which is having 30share holders
vishnupriya
(CA Final)
(1418 Points)
Replied 10 December 2011
I didn't get your question properly,
in 1st question:- 5 members left only employment, but still there are share holders of the company till they sell the shares.
in 2nd question:- companys dont have partners. Company have share holders or members.
Niharika
(-)
(109 Points)
Replied 10 December 2011
state the consequenses in each of the following
1.a pvt co. has 60 members in total of which 10 are the employees of the company .5 of these leave the employment of the company.
2.A pvt.firm has 20 partners, incl.a pvt.co. which is having 30share holders
vishnupriya
(CA Final)
(1418 Points)
Replied 10 December 2011
Where did you get this question?
in ICAI material?
S.ASWATH
(Manager)
(704 Points)
Replied 14 December 2011
1. pvt ltd co can have embers upto 50 which is excludes current and past employees
as per this in given qs. only 50 members only.
2. firm may have partners of maximum 20 in given case one of the partner is pvt. co thats as per firm co only partner not a member since co have a individual capacity (i.e) company is the artificial person so no need to see the no.of memers in co.
Sunil Khilvani
(Article Assistant)
(22 Points)
Replied 23 March 2012
1
For calculating the number of members as per (b) above, joint holders of shares are counted as single member and the members who are employees of the company including those who continue to be members after their employement ceased are excluded.
2
Company will be treated as single partner, shareholders of it is to be ignored.
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