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What is an unlimited company?

An unlimited company is a company having no limit on the liability of its members. The members of such a company are liable to the full extent of their fortunes to meet the obligations of the company by contributing to its assets in the event of its being wound up. Thus, such a company does not carry the benefit of limited liability which is available to the members of all the other types of company. So far as the risk of the members is concerned, there is no difference between a partnership firm and an unlimited company.

Eighth Type of NBFC Formulated by RBI

RBI has issued  CIRCULAR DNBS.CC.PD.NO. 250/03.10.01/2011-12, DATED 2-12-2011 by which  it is stated that a new category of Non Banking Financial Company for Micro Finance sector is created.Thus, a separate category of NBFCs viz; Non Banking Financial Company-Micro Finance Institution (NBFC-MFI) is created. Now the 8 types of NBFC are i. Asset Finance Company (AFC)...

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1,55,939 Defunct Companies Identified by MCA

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today[4th August 2011 ] informed the Lok Sabha that whether Government has enumerated or identified such registered companies which are inactive, dormant and have been in such mode for at least ten years.                           Replying to a written question the minister said...

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