Analyse the eligibility of a minor to become member of the company and other issues incidental thereto in the following scenarios: Minor becoming member by agreement signed by him Minor becoming member by allotment or tr

i. A member who is a minor is wholly incompetent to enter into a contract/agreement and as such cannot become a member of a company. Consequently, an agreement by a minor to take shares is void ab-initio. ii. An agreement in writing for a minor to become a member may be signed on behalf of the minor by his lawful guardian and the registration of transfer of shares in the name of the minor, acting through his or her guardian, especially where the shares are fully paid cannot be refused on the ground of the transferee being a minor [Miss Nandita Jain v. Benett Coleman and Co. Ltd., Appeal No. 27 of 1972 dated 17.2.78]. iii. If shares are transferred to a minor, the transferor will remain liable for all future calls on such shares so long as they are held by the minor even if the transferor was ignorant of his minority. iv. In this case, a minor is not required to restore the dividend received by him during his minority and the company cannot invoke the doctrine of estoppel against him. [Sadiq Ali v. Jai Kishori, (1928) 30 Bom. L.R. 1346].