12-13-2006, 02:52 AM
Here are my views..
1. subscribers to memorendum are people who agree and undertake to abide by the objects and other things written in the memorendum and who agree to pay to the company a sum equal to the value of shares they take, and their liability to the company is limited to number of shares unpaid. They need not be promoters of the company. They can be anyone..
2. successor in interest is the person, who succeeds only with respect to limited interest attached to the shares. and successor enjoys full rights of his predecessor.
3. Modarba is a fund where one person gives his money and other his expertise and/or skill. and the company which manages this fund is modaraba company. and a company can have more than one modaraba.
1. subscribers to memorendum are people who agree and undertake to abide by the objects and other things written in the memorendum and who agree to pay to the company a sum equal to the value of shares they take, and their liability to the company is limited to number of shares unpaid. They need not be promoters of the company. They can be anyone..
2. successor in interest is the person, who succeeds only with respect to limited interest attached to the shares. and successor enjoys full rights of his predecessor.
3. Modarba is a fund where one person gives his money and other his expertise and/or skill. and the company which manages this fund is modaraba company. and a company can have more than one modaraba.
