Kaveri Tools Private Limited has the following members: 170 individuals who are neither present nor past employees (this figure includes 6 pairs of joint holders), 20 current employees who hold shares, and 9 former employees who became members while in employment and continue as members. For the limit on members in section 2(68), how many members are counted?

Correct answer: C) 164

Explanation

Under section 2(68), employee-members and former employees who became members while in employment and continue to be members are excluded from the 200 limit. Joint holders are treated as a single member. Of the 170 non-employee members, 12 persons form 6 joint holdings, so they count as 6 rather than 12: 170 - 12 + 6 = 164. The 20 employees and 9 former employees are ignored.