An unlimited company is a company not having any limit on the liability of its members. Thus the maximum liability of the members of such a company, in events of its bring wound up, might stretch upto the full extent of their properties to meet the obligations of the company by contributing to its assets.
A company is registered as an unlimited company may subsequently convert itself as a limited company, subject to the condition that any debts, liabilities, obligations or contracts incurred are entered into by or on behalf of the unlimited company before such conversion are not affected by such changed registration.
Read about Limited Liability Company.
A company is registered as an unlimited company may subsequently convert itself as a limited company, subject to the condition that any debts, liabilities, obligations or contracts incurred are entered into by or on behalf of the unlimited company before such conversion are not affected by such changed registration.
Read about Limited Liability Company.
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