Companies Act, 2017

PART-V

UNLIMITED LIABILITY OF DIRECTORS

From: 2023-11-01 - To: 0000-00-00 98. Limited company may have directors with unlimited liability.- (1) In a limited company, the liability of the directors or of any director may, if so provided by the memorandum, be unlimited. (2) In a limited company in which the liability of any director is unlimited, the directors of the company, if any, and the member who proposes a person for election or appointment to the office of director, shall add to that proposal a statement that the liability of the person holding that office will be unlimited and the promoters and…