membership of a company
nikhil kumar
(Querist) 02 October 2010
This query is : Resolved
as patnership firm cannot become member in company in its own name then why it can become member in section 25 licensed companies
sir it is question relating to membership of a company
Devajyoti Barman
(Expert) 02 October 2010
Partnership firm is not legal or juristic person and hence can not become a member of a company.
R.Ramachandran
(Expert) 03 October 2010
Let me rephrase the query of Mr. Nikhil.
As pointed out by Mr. Devajyoti, "Partnership firm is not legal or juristic person and hence can not become a member of a company."
If so, how such a partnership firm is being allowed to be a member of a "Company licensed under Sec. 25 of the Companies Act, 1956).
Sec 25(4) says "A firm may be a member of any association or company licensed under this section, but on the dissolution of the firm, its membership of the association or company shall cease."
Mr.Nikhil only wants to know the reasons behind allowing the Firm to be a member of the Sec.25 Company, but not other Companies.
nikhil kumar
(Querist) 03 October 2010
yes sir what is the reason
