Mr. Pink held 100 partly paid-up shares of Red Limited. The company asked him to pay the
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Mr. Pink held 100 partly paid-up shares of Red Limited. The company asked him to pay the final call money on the shares. Due to some unavoidable circumstances, he was unable to pay the amount of call money to the company. At a general meeting of the shareholders, the chairman disallowed him to cast his vote on the ground that the articles do not permit a shareholder to vote if he has not paid the calls on the shares held by him. Mr. Pink contested the decision of the Chairman. Referring to the provisions of the Companies Act, 2013 decide whether the contention of Mr. Pink is valid.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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