Section 17 of CA 2013 : Section 17: Copies Of Memorandum, Articles, Etc, To Be Given To Members
CA 2013
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Explanation using Example
Imagine that Sarah is a shareholder in XYZ Pvt. Ltd. and is considering selling her shares. However, before she does so, she wants to review the company's memorandum and articles of association to ensure there are no clauses that might affect the sale. Sarah requests these documents from the company.
According to Section 17 of The Companies Act, 2013, XYZ Pvt. Ltd. is obligated to provide Sarah with a copy of the memorandum and articles within seven days, provided she pays the prescribed fee. If the company fails to do so, it could be penalized with a fine of up to one lakh rupees or one thousand rupees for each day the default continues, whichever is less.
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