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Unlimited company

Saurabh Pandey (6 Points)

19 February 2020

what does the word unlimited company represent

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CS Rashi Jain (Practicing Company Secretary @ RASHI JAIN & ASSOCIATES) (1295 Points)
Replied 19 March 2020

An unlimited company or private unlimited company is a hybrid company incorporated with or without a share capital but where the legal liability of the members or shareholders is not limited: that is, its members or shareholders have a joint, several and non-limited obligation to meet any insufficiency in the assets of the company to enable settlement of any outstanding financial liability in the event of the company's formal liquidation.