Question

Mention the upper and lower limits of membership of:
(a) Joint Hindu Undivided Family
(b) A private limited company
(c) A consumer's cooperative society
(d) A public limited company listed under NSE

Answer 1

(a) Outside the limits of coparcenary, there is a fringe of persons, males, and females, who constitute an undivided or joint family. There is no limit to the number of persons who can compose it nor to their remoteness from the common ancestor and to their relationship with one another. A joint Hindu family consists of persons lineally descended from a common ancestor and includes their wives and unmarried daughters. The daughter, on marriage, ceases to be a member of her father’s family and becomes a member of her husband’s family. The joint Hindu family is thus a larger body consisting of a group of persons who are united by the tie arising by birth, marriage or adoption. Hence no particular upper limit, but atleast two male members we can say it as a lower limit.

(b) Private Limited Company (Pvt. Ltd.) - Minimum members required: 2 & Maximum: 200.

(c) Minimum 10 members are required for consumer's cooperative society as anybody excluding minor can be a member of consumer's cooperative society.

(d) A public ltd. company should have at least 7 members and can go to infinite numbers of members.