Distinct membership identity ensures individuals with shares in multiple companies are counted separately for deemed public company calculations. When a private company is deemed public, individuals who hold shares in that private company and in one or more shareholding companies are to be treated as separate members of each company for computing total members. Common shareholding does not permit aggregating an individual's identity across companies; each membership carries its own rights and must be counted separately under the membership computation rule.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Distinct membership identity ensures individuals with shares in multiple companies are counted separately for deemed public company calculations.
When a private company is deemed public, individuals who hold shares in that private company and in one or more shareholding companies are to be treated as separate members of each company for computing total members. Common shareholding does not permit aggregating an individual's identity across companies; each membership carries its own rights and must be counted separately under the membership computation rule.
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