Is the limited liability clause removed in case of private limited companies. If at all the clause is removed then who are the persons who could be held individually responsible for the liability?
Can anyone pls help on the same..............
Keval Shah (Employed) (25 Points)
06 October 2010Is the limited liability clause removed in case of private limited companies. If at all the clause is removed then who are the persons who could be held individually responsible for the liability?
Can anyone pls help on the same..............
SUNIL KUMAR JAIN
(PRACTISING COMPANY SECRETARY)
(187 Points)
Replied 07 October 2010
Dear Mr. Keval,
In the given case liability of the members shall become unlimited.
Regards,
Sunil K. Jain, FCS, AICWA, BAL
Practising Company Secretary,
skj13 @ rediffmail.com, 9810104162
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