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Cessation of Membership of a Company

The Occurrence of one or more of the following events generally results in being a person getting disassociated from and cease to be a member of a registered company and consequently his name is removed from the register of members or register of beneficial owners of a company.
  1. Buy-back of Shares under Section 68 of the companies act 2013 (earlier sec 77A of companies act 1956) by Company;
  2. Transfer of Shares with or without consideration to another person;
  3. If a Member get expired or insolvent and his nominee/successor or creditor replaces him in the Register of Member;
  4. Non-Payment of the allotment/call money on the shares held by a member resulting in forfeiture of shares by a company;
  5. By the Order of the Court under Section 242 of the companies act 2013 (earlier sec 402 of companies act 1956), directing the transfer of shares of a member to another member or the Company;
  6. If the Company exercises lien on shares of a member in accordance with the Articles of Association;
  7. In the case of winding up / dissolution / strike off the name of a company.
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