Thursday, March 28, 2024    Bookmark and Share
AKAS & ASSOCIATES LLP
Chartered Accountant
My Documents
Admin Login
 
Home
Services
About Us
Contact Us
Partners
Ask a Query

14. Upon a dissolution no member to receive profit If upon the dissolution of any society registered under this

Act there shall remain, after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the members of the said society or any of them, but shall be given to some other society, to be determined by the votes of not less than three-fifths of the members present personally or by proxy at the time of the dissolution, or in default thereof, by such court as aforesaid: Clause not to apply to Joint-stock Companies : Provided, however, that this clause shall not apply to any society which has been founded or established by the contributions of share-holders in the nature of a Joint-stock Company. 

Total Visitors: 721829 Powered By Aem Solutions