law: Companies Act, 2013 
  10.
  
   Effect
  
  of memorandum and articles.
  1.      Subject to the
  
  provisions of this Act, the memorandum and articles shall, when registered,
  
  bind the company and the members thereof to the same extent as if they
  
  respectively had been signed by the company and by each member, and contained
  
  covenants on its and his part to observe all the provisions of the memorandum
  
  and of the articles.
  2.      All monies payable by
  
  any member to the company under the memorandum or articles shall be a debt due
  
  from him to the company.