Can the following persons or institutions become member of a company under the provisions of Companies Act, 2013: (ii) Devid, who is a Foreigner and resident of Japan.
CS Executive · Company Law · PYQS · December 2023
Can the following persons or institutions become member of a company under the provisions of Companies Act, 2013: (ii) Devid, who is a Foreigner and resident of Japan.
Answer & Explanation:
A foreigner may take the shares in an Indian Company and become a member subject to the provisions of the Foreign Exchange Management Act, 1999, but in the event of war with his country, he become an alien enemy and his power of voting and his rights to receive notices are suspended. Thus, Devid can be a member of Company.
Topics: Membership
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