Is Flower Fans Private Limited no longer in existence?
CA Foundation · Business Laws · RTP · September 2025
Is Flower Fans Private Limited no longer in existence?
Suggested Answer and Working Notes:
Perpetual Succession - A company on incorporation becomes a separate legal entity. It is an artificial legal person and have perpetual succession which means even if all the members of a company die, the company still continues to exist. It has permanent existence. The existence of a company is independent of the lives of its members. It has a perpetual succession. In this problem, the company will continue as a legal entity. The company's existence is in no way affected by the death of all its members.
Topics: The Companies Act, 2013
Related Questions in this Topic
- (i) What do you mean by 'Common Seal'? Is it necessary for a company to have Common Seal? Discuss as per provisions of t...
- (i) Mr. Vijay sold his business of cotton production to a cotton production company, CPL Private Limited, in which he he...
- Mr. R, a manufacturer of toys approached MNO Private Limited for supply of raw material worth ₹ 1,50,000/-. Mr. R was of...
- (i) Tycoon Private Limited is the holding company of Glassware Private Limited. As per the last profit and loss account ...
- Do you agree that a company is an artificial person? Elucidate. Also explain how the authorization by M/s Beeta Limited,...