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sec.2(71)
in company limited by guarantee if the guarantor says no to pay the amount what he said at the time of formation of company so any punishment for them
Replies (2)
yes the punishment shall be imposed because in case of company limited by guarantee three liability of member shall be limited to the amount of guarantee taken as same in case of partly paid up shares
which type of punishment given to victim in sec.2(71) fine or a imprisonment
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