please can someone explain section 3A ?
about something members of company
2 Replies
Chirag
(Professional)
(1979 Points)
Replied 28 August 2018
Section 3A was inserted under the companies( amendedment) act, 2017 ,Which says that in the case of Private company( except OPC) ,No. of member reduced below the minimum statutory requirement of 2 and in case of public company below 7 , and company continues to run the business with such reduced no. of members for more than 6 months ,than every person who is a member of the company when the no. of members reduced below statutory threshold shall held personally liable for all the debts entered by company during that time period,
the same provisions were also under section 45 of erstwhile companies act, 1956 but done away in new act of 2013 which is again reintroduced in amendment act of 2017 ...
the same provisions were also under section 45 of erstwhile companies act, 1956 but done away in new act of 2013 which is again reintroduced in amendment act of 2017 ...
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