As per Section 41 of the Companies Act, a person may acquire the membership of a company:
- by subscribing to the Memorandum of Association (deemed agreement); or
- by agreeing in writing to become a member:
- by making an application to the company for allotment of shares; or
- by executing an instrument of transfer of shares as transferee; or
- by consenting to the transfer of share of a deceased member in his name; or
- by acquiescence or estoppel.
- by holding equity share capital of a company whose name is entered as beneficial owner in the records of a depository (Under the Depositories Act, 1996),
and on his name being entered in the register of members of company. Also every such person holding equity share capital of the company and whose name is entered as beneficial owner in the records of the depository shall be deemed to be the member of the concerned company.
