Members severally liable for debts where business carried on with fewer than seven, or in the case of a private company, two members.

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..... TERS INCIDENTAL THERETO
Companies Act, 1956
Reduction of number of members below legal minimum Members severally liable for debts where business carried on with fewer than seven, or in the case .....

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..... onths and is cognizant of the fact that it is carrying on business with fewer than seven members or two members, as the case may be, shall be severally liable for the payment of the whole debts of the .....

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