The members would have got the rights through the company’s councilor memorandum and councilor’s articles. Huh. The members of the company have the right to interfere in the day-to-day affairs of the company. The membership of the company arises out of contract. Hence the statute provides certain powers to the members. These rights can be further clarified as
A. Individual Rights Such rights mean those rights. Which can be used by the member of the company himself. For this he does not need to make a Companies Act collecting other members. The following rights are included under the personal rights of the members
(1) Rights of Inspection: Any member of the company has the right to visit the company and inspect the following books of the company
1. Register of investments of the company. 2. Register of Charges of the Company
3. Register of members and debentures
4. Book of General Assembly and Proceedings.
5. Register of Directors, Managing Agents, Secretary, Treasurer etc. (2) Rights Regarding Shares – Company
The following are the rights relating to the shares of the company. 1. Right of priority in taking shares
2. Right to transfer shares.
3. Right to exercise your vote at will
. Right to receive dividend
The following rights are related to every member of the company.
(3) Rights of Meeting
2. Right to submit proposal
3. Right to attend the meeting
4. Right to receive copy of proceedings of meetings
(4) Rights of copying: Members in the company also have the right to get copies of some of the following important documents
1. Right to get copy of memorandum and articles of council
2. Right to receive copy of Trust
3. Right to receive certificate of shares
4. Right to receive copy of debenture. 15. Right to copy of registers and indexes
6. Right to receive distribution letters related to appropriation register and annual statement
(5) Right of Application to the member of the company
The government or the court has the right to make an application against the company in the following circumstances
(a) Application to the Central Government
(1) For convening the annual general meeting of the company, (2) If the auditor is not appointed, an application can be made for appointment.
(b) Application to the Court
(1) For the winding up of the company,
(2) An application may be made for convening a general meeting of the company.
B. Collective Rights – Collective Rights means such statutory rights of the members which they can exercise by passing a general or special resolution by majority in the company’s assembly or by submitting an application to the prescribed number of members. these