Section 45 of Companies Act, 2013
Numbering of shares.
Every share in a company having a share capital shall be distinguished by its distinctive number:
Provided that nothing in this section shall apply to a share held by a person whose name is entered as holder of beneficial interest in such share in the records of a depository.
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Section 45 of Companies Act, 1956
Members severally liable for debts where business carried on with fewer than seven, or in the case of a private company, two members.
If at any time the number of members of a company, is reduced, in the case of public company, below seven, or in the case of a private company, below two, and the company carries on business for more than six months while the number is so reduced, every person who is a member of the company during the time that it so carries on business after those six months and is cognizant of the fact that it is carrying on business with fewer than seven members or two members, as the case may be, shall be severally liable for the payment of the whole debts of the company contracted during that time, and may be severally sued therefor.
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