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Under the Companies Act, 2013, in a company limited by shares, the liability of members is:

Section 2(22) defines a company limited by shares as one "having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares…

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Under the Companies Act, 2013, in a company limited by shares, the liability of members is:

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Correct answer C

Section 2(22) defines a company limited by shares as one "having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them". The limit comes from the memorandum, not from the articles or a Board resolution.

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