interest coverage ratio of a firm is 2 and it is rupees 20 lacs if depreciation is rupees 20 lacs and tax is rupees 10 lacs calculate annual interest obligation
Answers
Answer:
1. Present members:
These are the persons whose names appear as members in the company’s Register of Members at the time of the commencement of the company’s winding up. They have a primary and absolute liability to pay the uncalled money on their shares whenever called by the liquidator or the court.
In the case of a company limited by guarantee, their liability shall be limited to the amount they had agreed to contribute towards the assets of the company in the event of the company’s winding up besides’ the unpaid money on the shares held by them, if the company has a share capital too.. Past members:
‘Past member’ includes those persons whose shares have been forfeited, surrendered, cancelled or transferred but who had held shares at any time within one year preceding the winding up of the company.