Asansol Club Ltd is a company Limted by Guarantee. New Members are being Inducted at a premium of Rs 5.00 lacs per head. The articles are silent on this.
This has prompted the managemnet to Terminate members on whimsical grounds and take new members. The managing committee has also incorporated an ammendment to the Articles which allow a voulantary retirement by payment of Rs 75000 and taking a new member for 5 lacs;
Are these not economic offences? Where should one file a case, The CLB? or the Magistrate Court. Should the case be civil or criminal?
