Question
When are the members of a Company considered to be
severally liable under the Companies Act, 2013?Solution
Section 3A Members severally liable in certain cases: If at any time the number of members of a company is reduced, in the case of a public company, below seven, in the case of a private company, below two, and the company carries on business for more than six months while the number of members is so reduced, every person who is a member of the company during the time that it so carries on business after those six months and is cognizant of the fact that it is carrying on business with less than seven members or two members, as the case may be, shall be severally liable for the payment of the whole debts of the company contracted during that time, and may be severally sued therefor.
When there are several defendants, service of summons shall be made _____________.
If a partner earns some profit for himself from the business of the firm?
JMPR deals in
Any person desirous of commencing or carrying on a payment system may apply to the ………………for an authorisation under this Act
...Which of the following best describes the principle of the "Rule of Law" as it relates to Article 14 of the Indian Constitution?
Coal mines shall be allocated by way of
What are the circumstances under which a man is said to have committed the offence of rape?
Which jurisprudential theory argues that law should reflect the social realities and needs of the society and emphasizes the role of law as a tool for s...
Which section deals with the infringement of registered trademarks?
Which statement about a designated partner in the context of a Limited Liability Partnership is not true?
Relevant for Exams:
