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प्रश्न
Justify the following statement.
Insolvent person ceases to be the Member of the company.
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उत्तर
A person having insufficient assets to meet debts and liabilities is called an insolvent. It is illegal for an insolvent person to enter into any contract or agreement with another person. When a member of a company is declared by the court of law as insolvent. His official receiver or assignee transfers his shares in favour of his creditor in settlement of his debts. On such transfer of shares, the membership of the insolvent member is terminated. Thus, an insolvent person ceases to be a member of the company.
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संबंधित प्रश्न
Select the correct answer from the options given below and rewrite the statement:
________ is a person whose name is entered in the Register of Members.
Select the correct answer from the options given below and rewrite the statement:
A _______ cannot be a member of a company.
State whether the following statement is True or False:
Both, individuals and body corporate can be members of the company.
State whether the following statement is True or False:
Minor can be the member of the company
State whether the following statement is True or False:
Member of the company is conferred with several rights.
State whether the following statement is True or False:
Member is entitled to profits of the company when a dividend is declared.
Complete the sentence:
Members have a right to appoint and remove the __________
Select the correct option form the bracket.
| Group A | Group B |
| Minor | ___________ |
Answer in one sentence:
Which individuals cannot become a member of a company?
Answer in one sentence:
What is the common way of becoming a member of a company?
Correct the underlined word and rewrite the following sentence:
A Minor can be a member of a company.
Explain the following Term/Concept.
Member
Explain the following Term/Concept.
Transmission of Shares
Justify the following statement.
Nominee of the member of OPC becomes its member of the death of the member.
Justify the following statement.
Members of company are entitled to several rights.
Justify the following statement.
Members of the company have some fundamental corporate decision-making rights.
Answer the following question:
Explain the circumstances when Member is not a shareholder and vice-versa.
