How to remove a member in a Pvt. Ltd. company susbscribed to Memmorandem of association but not paid the amount for shares? Kindly explain scope of sec 36(2) of companies act 1956
johnpaul21 (managing Director) 11 August 2015
SAINATH DEVALLA (LEGAL CONSULTANT) 11 August 2015
2/3rds of the members can pass a resolution for the removal of a member.But initially the firm has to issue a notice to the member stating the facts for his removal and 15 days notice period should be given
johnpaul21 (managing Director) 11 August 2015
As per Sec 36 (2) All money payable by any member to the company under the memorandum or articles shall be a debt due from him to the company. can company take legal step to recover the money(debt due)or can company ouster the person. can you site some judgements
T. Kalaiselvan, Advocate (Advocate) 17 August 2015
The company can initiated steps to recover the money due to it by observing due process of law. Oustering the member from the company will be decided by the meeting of the board members.
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