Match List-I with List-II.

Choose the correct answer from the options given below:

(A)-(IV), (B)-(III), (C)-(II), (D)-(I)

The correct answer is option 2- (A)-(IV), (B)-(III), (C)-(II), (D)-(I).

(A) Unlimited Companies- (IV) Creditors can claim their dues from the members.
Unlimited Companies: When there is no limit on the liability of its members, the company is called an unlimited company. When the company’s property is not sufficient to pay off its debts, the private property of its members can be used for the purpose. In other words, the creditors can claim their dues from its members. Such companies are not found in India even though permitted by the Companies Act.

(B) One Person Company- (III) Paid up capital is not more than 50 lakhs.
One Person Company (OPC): Sec. 2 (62) of the companies Act, 2013, defines OPC as a “company which has only one person as a member”. Rule 3 of the Companies (Incorporation) Rules, 2014 provides that:

• (a) Only a natural person being an Indian citizen and resident in India can form one person company,
• (b) It cannot carry out non-banking financial investment activities.
• (c) Its paid up share capital is not more than Rs. 50 Lakhs.
• (d) Its average annual turnover of three years does not exceed Rs. 2 Crores. 

(C) Private company- (II) Limits the number of members to 200.
Private Company: A private company is one which by its articles of association:

• (a) Restricts the right to transfer its shares;
• (b) Limits the number of its members to 200 (excluding its employees);
• (c) A private company must have at least 2 persons, except in case of one person company.

(D) Companies Limited by Guarantee-(I) Liability arises only in the event of winding up.
Companies Limited by Guarantee: In this case, the liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up. Thus, the liability of the members will arise only in the event of its winding up.