186. Issue of licence in the name of registered company or firm.
- No licence shall be issued in the name of a company or firm unless such company is registered under the Companies Act, 1956, Co-operative Societies Act or the Societies Registration Act in force in Mizoram. When a licence has been granted to an unregistered firm, licence should be issued in the names of the individuals as representing such firm and not the firm itself. No distinction shall be drawn from the legal liabilities among the individuals as representing the corporate body who will be jointly and severally responsible.
