Unlimited company and guarantee company

Surendra (Querist) 21 November 2011 This query is : Resolved
Dear All,

Please provide me theory and provisions regarding unlimited and guarantee company and,

Are unlimited and guarantee companies more convenient vehicles for growth over limited company. (Any Example)

Thanking you.

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Raj Kumar Makkad (Expert) 21 November 2011
A company limited by guarantee. Commonly used where companies are formed for non-commercial purposes, such as clubs or charities. The members guarantee the payment of certain (usually nominal) amounts if the company goes into insolvent liquidation, but otherwise they have no economic rights in relation to the company. This type of company is common in England.

Rajeev Kumar (Expert) 21 November 2011
Yes i do agree

prabhakar singh (Expert) 22 November 2011
Yes i agree

Surendra (Querist) 22 November 2011
Thanks to you all,

@ Raj kumar sir, can you please provide me any information about Unlimited company and its examples and what are the features a unlimited company have?

Shailesh Kr. Shah (Expert) 22 November 2011
unlimited company - this type of company may or may not have a share capital and there is no limit to the members' liability. Because there is no limitation on members' liability, far less of the company's affairs have to be disclosed publicly than is the case with the other types of company.

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