Section 244 — Right to apply under section 241

(1) The following members of a company shall have the
right to apply under section 241, namely:—
(a) in the case of a company having a share capital, not less than one hundred members of the
company or not less than one-tenth of the total number of its members, whichever is less, or any member
or members holding not less than one -tenth of the issued share capital of the company, subject to the
condition that the applicant or applicants has or have paid all calls and other sums due on his or their
shares;
(b) in the case of a company not having a share capital, not less than one -fifth of the total number
of its members:
Provided that the Tribunal may, on an application made to it in this behalf, waive all or any of the
requirements specified in clause (a) or clause (b) so as to enable the members to apply under section 241.
Explanation.—For the purposes of this sub-section, where any share or shares are held by two or more
persons jointly, they shall be counted only as one member.

1. The words “with imprisonment for a term which may extend to six months or” omitted by Act 29 of 2020, s. 43
(w.e.f. 21-12-2020).
2. Subs. by s. 43, ibid., for “one lakh rupees, or with both” (w.e.f. 21-12-2020).
3. Ins. by Act 22 of 2019, s. 35 (w.e.f. 15-8-2019).
4. Ins. by Act 22 of 2019, s. 35 (w.e.f. 15-8-2019).
5. The words “w ith imprisonment for a term which may extend to six months or ” omitted by Act 29 of 2020, s. 44
(w.e.f. 21-12-2020).
6. Subs. by s. 44, ibid., for “five lakh rupees, or with both” (w.e.f. 21-12-2020).

(2) Where any members of a company are entitled to make an application under sub -section (1), any