Liability of members, Business Law and Ethics

Liability Of Members:

S.72 (1) provides that in the case of a reduction of share capital a member of the company so there past or present and shall not be liable in respect of any share to any call or contribution exceeding in amount the difference, whether any between the amount of the share as fixed by the minute and the amount paid, or the reduced amount, whether that is deemed to have been paid on the shares.

Posted Date: 1/12/2013 4:30:59 AM | Location : United States







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