1. #1
    Unregistered

    If the company is registered with unlimited liability, does that mean personal property are also taken into consideration?

    Company are registered with limited liability and unlimited liability. Limited liability means whatever property the company only will be used. But what does company does who are registered under unlimited liability. Are the personal property of the owner are also taken into consideration while refunding the amount invested by public? What percentage of personal property is considered while doing that?

  2. #2
    patrkdeepak Array
    Join Date
    Jan 2013
    Posts
    56

    Re: If the company is registered with unlimited liability, does that mean personal property are also taken into consideration?

    Yes, this is what you must have studied in Business Organisation module in b.com. If a firm is registered under Unlimited Liability (so called partnership firm) then the assets of owner is also considered for recovery. Better to go for LLP, you can enjoy the benefit of partnership firm with valid as limited liability. This is for medium scale enterprises and its full form is Limited Liability Partnership. You don't need to audit your accounts or other govt formalities and this is the most popular form of organisation in india.

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