Question

If the properties of a company are insufficient to repay all its debts, can the balance

amount be repaid with the private properties of the members of that company. Give

reason.

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Answer 1

Yes. It is true. But it at times depends upon the agreement signed between the debted company and the employees.

Answer 2

Answer:

No because the liability of the members of a company is limited upto the face value of the shares