A member may hold virtually the entire share capital of a company. Such a company is known as a ‘one-man company’. This can happen both in a private company and a public company. The other member/members of the company may be holding just one share each. Such other members may be just dummies for the purpose of fulfilling the requirements of law as regards minimum membership [Salomon v. Salomon & Co. Ltd.].
Thursday, 17 April 2014
One-man Company
A member may hold virtually the entire share capital of a company. Such a company is known as a ‘one-man company’. This can happen both in a private company and a public company. The other member/members of the company may be holding just one share each. Such other members may be just dummies for the purpose of fulfilling the requirements of law as regards minimum membership [Salomon v. Salomon & Co. Ltd.].
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