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5. Limited Liability:
The members of the company are liable to contribute towards
payment of its debts to a limited extent, eg.in a company
limited by shares, a members liability is limited to the
nominal value of the share.
6.Transferable Shares:
The company's Shares are capable of being transferable.
They are traded in stock exchange market.
7.Common Seal:
A company can be held bound by all those documents which
bear its signature. Common seal is the official Signature of
the company.
8. Separate Property:
Share holders are not as per law part owners of the company
or its property. A company being a legal person can hold and
own property in its own name.
7. Directors consent to work 7. Necessary
as a director with the
12. Quorum for general 12. Five members
meeting is 2
13. Can be registered with a
13. Rs. 5 Lakh
paid up capital of Rs. 1
Lakh
14. Exempted from filing of
14. Not so exempted
various returns
15. Cannot accept deposits
15. Can accept deposits.
from public.