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.
Which of the following statements accurately describes the relationship between price and quantity demanded/supplied, considering potential exceptions?
In case of wilful defaulters, the bank must complete the identification process within:
Which electronic platform is used for facilitating T-bills auctions?
As per the UK Sinha Committee, which of the following measures was proposed to improve the financing of MSMEs?
Which of the following Scheme has been merged into Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS) Scheme.
I- Pradhan Mantri Kaushal Ko Kaam K...
Which of these are covered under Regulated Entities (RE):
1. All India Financial Institutions (AIFIs)
2. All Non-Banking Finance Companies...
Which of the following is correct regarding Reinvestment Risk?
                             i.       When I...
What is the full form of IFSC in the context of GIFT City?
Which role is the manager playing when he communicates within and outside the organization to maintain healthy relationship both within and outside the ...
As per the Companies Act, 2013, the minimum gap between two Annual General Meetings (AGMs) should not be more than:
