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Liability of a member

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(Querist)
08 February 2008 Sir,
A company goes into liquidation. Nominal value per share is Rs.100/- and issued price is Rs.150/-. A shareholder has paid Rs.80/-. Now, what is the liability of the member? Is it the amount unpaid on the nominal value - Rs.20/- or total amount remaining unpaid - Rs.70/-(150-80)?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
08 February 2008 It is the total amount unpaid on shares.
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Badri Kharat

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Badri Kharat (Expert)
28 February 2008 total Rs.70 per share
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