Question
When are the members of a Company considered to be
severally liable under the Companies Act, 2013?Solution
Sec. 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.
Where both the parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is__________________
What will be the effect in the case of an alternative promise, where one branch is legal and the other illegal?
Which of the following amounts to breach of trust?
The maximum period of solitary confinement which may be ordered by the court is :
The Fund constituted under the IRDA Act, 1999 shall be only used for meeting_____________
What does FDCA stands for?
The Magistrate may award compensation to persons groundlessly arrested not exceeding:
Ejusdem generis is___
The Maharashtra Rent Control Act came into effect in the year?
Which of the following is an offence against State?
