Section 3A of CA 2013 : Section 3A: Members Severally Liable In Certain Cases
CA 2013
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Explanation using Example
Imagine a private company named QuickTech Pvt. Ltd., which originally had three directors and shareholders. Over time, two directors decide to leave the company, reducing the number of members to just one. Despite this, the remaining director continues to operate the business for over six months without adding another member to meet the minimum requirement of two members for a private company.
During this period,...
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