Limited liability of members
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 May 2012
What is meant by the term "Limited Liability"? If the member has fully paid the calls on shares, is he liable in the event of winding up of company limited by shares?
03 May 2012
Limited Liability means shareholder will not be liable in the event of winding up of the company in case his shares are fully paid up. In case of partly paid up shares company can call the unpaid amount of the shares.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2012
Thanks a lot Sumti for resolving my confusion
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