Question

Under the Companies Act what is the extent of the

Q: Answer-Under the Companies Act what is the extent of the Members' liability for the company's obligations i...

Section 378C - Formation of Producer Company and its registration 3 A Producer Company so formed shall have the liability of its Members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them and be termed a company limited by shares.

Members' liability for the company's obligations in a Producer Company limited by shares?

A The Members have unlimited liability

B The Members are liable up to the face value of their shares

C The Members are liable for all the company's debts and liabilities

D The Members' liability is limited to the amount unpaid on their shares

E Either a or c

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Under the Companies Act what is the extent of the

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