Articles
62 Points
Posted on 08 May 2010
Ans to d problem
Accordingly, in the given problem, the remaining six members shall incur personal liability for the debts contracted by the company,
(i) If they continued to carry on the business of the company with that reduced membership beyond the six month period.
(ii) Only those members who knew of this fact of reduced membership shall be liable.
(iii) The liability shall extend only to the debts contracted after six months from the date of auction of that member’s shares.