Company Affairs (CS) Question: Download Company Affairs CS PDF
Define if you know company limited by guarantee?
Answer:
Companies where liability of members is always limited to a fixed amount agreed by its members to contribute towards the assets of the company is known as a company limited by guarantee. In such companies the articles shall state the number of members with which the company is to be registered. Thus, the amount promised to pay by a member of a company limited by guarantee is called the guarantee.
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