Companies Act_Practical Problems_61

A company incorporated in 2000 had a provision in its Articles that a director should hold 200 shares of the value of Rs.10 each as qualification shares. At an AGM in 2003, an ordinary resolution was passed increasing the share qualification to 600 shares. The company then issued notice to the directors who did not hold 600 shares to acquire additional shares within one month. M, a director, who was asked to acquire additional qualification shares, received the notice. Advice.