Members of a company incorporated under the Companies Act, 2013 are the agents of the company. Therefore, the company can be held liable for their acts.

Members (Shareholders) of a company are not the agents of the company and so they cannot bind the company by their acts. The company does not hold its property as an agent or trustee for its members and they cannot sue to enforce its rights, nor can they be sued in respect of its liabilities. Thus, to clarify, since members of the company are not agents of the company, the company cannot be held liable for their (members) acts. ALTERNATE ANSWER The Companies Act, 2013 do not create any agent-principal relation between the company and its members. Thus, the company cannot be held liable for their (members') acts. This is to clarify that the company under Section 9 has power to contract and therefore may appoint any person, whether member or not, as its agent, where required. Where the company enters into any such contract, it may be liable under that contractual obligation.