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Maintenance of minimum no of members

Corporate & Other Laws

Are members liable for the debts of the company incurred during the first six months or they are liable for debts incurred after 6 months

Leela Eswar

CA Inter

★ 5K+

12-Jul-20 11:32

356

Answers (2)

If the members fall below statutory limit and continue to carry on business for more than six months then the members who are aware of such fact, shall be personally liable for the debts contracted AFTER THOSE SIX MONTHS. (Sec 3A)

CA YOGITA HARJANI

Faculty

12-Jul-20 17:45

Thanks mam

Thread Starter

Leela Eswar

CA Inter

★ 5K+

12-Jul-20 17:46

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