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5 months agoLtd , the place the Government acquired the Coal mines of a Company under the Coal Mines Act, 1973, it was later found that the Company offered a coal mine to the wife of one of the Directors. The Supreme Court lifted the corporate veil from the Company, found the deal bogus, and ruled that the mine remained the Company’s property. The liability of the shareholders is restricted to a sure assured quantity talked about within the memorandum, payable solely within the event of liquidation and losses suffered by the company. The legal responsibility of an organization can be limited by its guarantee or shares.

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