Business Studies, asked by coolk9428, 11 months ago

When was limited liability of members of a company clause introduced in India?

Answers

Answered by smita964
1

Explanation:

The concept of limited liability, in India, was recognised for the first time by the Companies Act, 1857 closely following the English Companies Act, 1856 in this regard. The Act of 1857, however, kept the liability of the members of banking companies unlimited.

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