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Limited liability of members

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 May 2012 What is meant by the term "Limited Liability"? If the member has fully paid the calls on shares, is he liable in the event of winding up of company limited by shares?
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Sumti Bhadani

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Sumti Bhadani (Expert)
03 May 2012 Limited Liability means shareholder will not be liable in the event of winding up of the company in case his shares are fully paid up. In case of partly paid up shares company can call the unpaid amount of the shares.
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Querist : Anonymous

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Querist : Anonymous (Querist)
04 May 2012 Thanks a lot Sumti for resolving my confusion
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