INCORPORATION OF COMPANY
This query is : Resolved
22 September 2009
Q-1 WHAT IS THE DIFF. B/W LIMITED & UNLIMITED COMPANY .? EXPLAIN WITH EXAMPLE & NAME OF COMPANIES .
22 September 2009
Hi,
Companies limited by shares
These types of companies are quite common in commercial, trading and industrial world. Such companies are characterised with an authorised share capital of a certain amount, which is divided into shares. The authorised share capital may comprise of more than one kind of shares, viz. ordinary or equity shares (voting and non-voting) and preference shares. The liability of each member of such company is limited to the unpaid amount of shares and premium, if any, held by him.
Companies with unlimited liability: Every member in such a company is jointly and severally liable for all the debts and liabilities of the company.
Companies limited by shares
These types of companies are quite common in commercial, trading and industrial world. Such companies are characterised with an authorised share capital of a certain amount, which is divided into shares. The authorised share capital may comprise of more than one kind of shares, viz. ordinary or equity shares (voting and non-voting) and preference shares. The liability of each member of such company is limited to the unpaid amount of shares and premium, if any, held by him.
Companies with unlimited liability: Every member in such a company is jointly and severally liable for all the debts and liabilities of the company.
22 September 2009
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