SPCC 4 Marks Each

Membership comes to an end when the name of a member is struck off from the Register of Members.

A person becomes a member of a company when he holds shares of the company and his name is registered in the Register of Members.

A company is an artificial person that can exercise its rights as a living being. As per the provisions of the Articles of Association any independent existence can become a member of the company.

INTRODUCTION: - When the member's name is canceled from the company's membership sheet, then the membership of the person is terminated. There are various circumstances of endorsement of the membership, which can be shown as follows:

1. By share transfer: - When a member of the company sells his or her share to another person or person, the name of the share seller is canceled from the member sheet depending on the transfer of shares. As a result, its membership ends.
2. By transmission of share: - When a member dies, the bank's ownership of shares is processed by the legal process when a bankrupt or unstable brain is declared, resulting in an end to the membership of the original member.
3. By forfeiture of share: -The company has asked for an installment on the shares and the shareholder installment amount is not paid in the prescribed period, after the proper action, its shares are seized. As a result, the name of the shareholder is terminated after the cancellation of the name of the member; however the provisions regarding shareholders must be in the company's regulatory order.
4. By exercise of Lien on Shares: - If there is a provision for Share lien in the company's regulatory order, the company issues notice to the share holder to recover his debt. When the company sells shareholder shares to recover their levy using the rights of Share lien, the membership of its original shareholder ends.
5. By Redemption of Redeemable Preference Shares: - The company has issued a redeemable preference share and returns the term due to the condition to return the completed shares. As a result, membership of the share holder is terminated.
6. By Making Share Allotment Void: - When the provisions for regular share sharing in the company are violated, the affected shareholders can cancel the share sharing so that their membership ends. So that their membership ends.
7. By Liquidation/Winding up of Company: - When the company closes its business or completes its membership or the company goes into liquidation, the end of the membership ends with the end of the company.
8. By Amalgamation/Merger of Companies: - When one of the two companies is involved in a company's second company or two companies, the new company endorses the end of the membership of the losing company. However, members of the losing company can get a new membership subject to the proposed conditions.

• Conclusion: -Amazes the above thing that the reasons for the company's membership can end.

Introduction: -Company membership can be obtained in a variety of ways. Every person who owns the company's shares, whose name is registered in the name of the member, is considered a member. Different ways to get the company membership are as follows.

1. By signature of the application: - The person signing the Client application form automatically becomes a member by getting the certificate of registration.

• Being a member of the company is a prerequisite for the written consent of the member and the name of the person's name.
• However, this condition does not apply to the signatories of the establishment clause.

2. By Share Allotment: - The public invites public for the public by the company's advertising papers.

• Under whose jurisdiction individuals apply to buy shares.
• When the applicant's share application is approved, its name is registered in the nomination form.
• As a result they become a member.

3. By Share Transfer: - When a shareholder sells his or her share to another person, the person buying the share follows the share-transfer rule. Such shares may be subject to the provisions of the replacement company's company and the company's regulatory order.
4. By Share Transmission: - When a shareholder dies or a volatile brain is declared, a compulsory replacement is required by legal process. In such circumstances, its heir or legal representative becomes a member. As a result, his name receives membership in the name of the member. The authority has to submit.
5. By Shares acquired for Consideration other than cash: - Until the company comes into existence and starts pursuing business, it is necessary to take the service of many experts. Such service providers are given a full paid company to pay their service or worker's remuneration. As a result, the name of that person is registered in the name of the member and gets a member position.
6. By Estoppel or Holding out: - When a member sells his shares to others, his membership ends.

• Let the name continue in the company's membership sheet.
• Appear as a member himself.
• Uses the right to be a member by conducting consciences, and as a consequence the responsibility of the member arises when it is not currently considered to be a member, it is not considered valid.

• Because, according to law, it does not have the right to be a member. But responsibility becomes a member.

7. By Execution of Form of Renunciation: - Uses the resignation when the shareholder goes to the right of others to buy the right shares to buy shares of the right or part of the rights.

• The name of the person named on the basis of the declaration becomes a shareholder and requests the company to register the name of the nominee.
• Membership is received when the company registers it in the name of the member.

8. By the convertible debenture holder: - When the debenture holder has a convertible debenture and converts into debenture equity shares at a specified point, he becomes a member by assuming debenture holder equity.

• His name is entered in the member sheet.

9. Swat Equity Share: - Swat equity shares are the shares that the company allocates its managers, employees, and employees with special knowledge, or those non-cash substitutes. Membership of this type of shareholder can be obtained by registering in the name of the member.

• Conclusion: -Thus, the company's membership can be obtained from above. By which name can be obtained in the company's public letters and become a member of the company legally.

INTRODUCTION: -The company is a synthetic person existing by law.

• Who enjoys the right to live like a person by law.
• Legally, any unit having an independent existence and personalities can receive membership of the company.
• Qualifications or disqualification have not been mentioned about who can get the membership in the company act.
• But it is necessary to comply with the provisions made in the regulation.
• The following person or organization can be included to get the membership of the company.

1. Living person: - The Company’s membership is obtained through a contract between the person and the company.

• Therefore, a living person capable of making the contract can be a member of the Indian Contract Act.
• A person who is unable to contract cannot be a member. E.g: - A person with a serious, bankrupt, unstable brain.
• Under the Indian law, in some circumstances, an exception has been accepted in respect of minority, so it can become a member.

2. Generation Partners: - "Partner", "Partnership" and "Partnership Firm" have all three different positions.

• Because the partnership firm is not a 'person' in line with the law, it cannot be a member, but the firm's partners can gain membership of the company individually or jointly.

3. Hindu Undivided Family: In the Hindu Undivided family, only the family can get the membership of the company by purchasing shares in their own name or joint name.
4. Trust: - As per new company, any trust can become a member by purchasing share of the company and receive membership.
5. Foreign Person: Any other person in the country can be a member of the Indian company, but when a person is in the enemy country when a war situation or emergency is declared in India, its membership and rights from the company are postponed.
6. Joint Stock Holder: - When two or more persons jointly write the company's shares in the company's name, they are written jointly.

• Individual and joint liability arising out of the person's name as mentioned in it.
• The company corresponds to the name of the first person whose name is first for executive simplicity.
• Notice, a Dividend Warrant, Circular, Document, Share certificates are sent to the same address.

7. Company: - Membership can be obtained as being separate and independent artificial person existed by company law.

• The company can obtain membership of another company in accordance with its own regulation.
• The following provisions are required to be complied with.
• The company can get a membership of another company in relation to its own regulation.
• A minor company cannot get the membership of its firm, but in the case of the following exceptional circumstances, the company can get a membership of the company.

1. When a member of the Holding company dies and the subsidiary companies are assessed as legitimate representatives.......
2. When a subsidiary company holds a trustee of any meeting and does not have any interest in such trust.....
3. When the law enforcement company first establishes the relationship between the companies, after establishing the membership of a subsidiary of a subsidiary company......

8. Other Institutions: The institutions registered under government societies or other laws registered under government law can become a member of the company's share purchase, according to the provisions of their constitution.

Conclusion: -All these above prove that all living entities, generation partners, Hindu Undivided family, Foreign Individuals with joint share, company, and other organizations can get the membership of the company.