04-29-2010, 06:07 PM
Firstly, I would like to ask what sort of difference do you see between the shareholder and a member.....?As all the criteria of becoming a member as mentioned under section 2(21) is associated with having a share in the company......So accordingly maximum number of members for r private company is 50 excluding the employee members and a joint shareholder shall be treated as a single member For further clarification see sub section 28 of section 2
