5. result State the consequences in each of the following cases giving reasons for your answers: (a) A Private Company has 210 members in total of which 10 are the employees of the company. 5 of these employees leave the employment of the company. (b) A private firm has 20 partners, including a private company which is having 30 shareholders. What is a Government Company?
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The given questions are based on the concept of the corporation of a company and its members.
a.
- According to Section 2(68) of the Companies Act of 2013, private companies can only have 200 members.
- This figure excludes current and previous employees who joined the company while employed there and remained members after their employment ended.
- Furthermore, if two or more people jointly own one or more shares of a corporation, they will be regarded as a single member. As a result, the company's membership does not exceed 200.
- The threshold limit of 200 people for private companies does not account for former employees who were members. Thus the answer would have remained the same even if five employees left the company.
b.
- A government company is a company that is owned and controlled by a government. It can be both public and private.
- There are only two members required for its incorporation.
- These companies may be established for a variety of reasons, such as to provide essential services to the public, to generate revenue for the government, or to achieve certain policy objectives.
- These may operate in a variety of sectors, including transportation, energy, telecommunications, and more
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