The correct answer is option 2- (A)-(IV), (B)-(III), (C)-(II), (D)-(I).
| LIST I |
LIST II |
| (A) Companies Limited by Shares |
(IV) The liability of its members is limited to the extent of the nominal
value of shares held by them |
| (B) Companies Limited by Guarantee |
(III) The liability of its members is limited to the amount they undertake
to contribute in the event of the company being wound up |
| (C) Unlimited Companies |
(II) There is no limit on the liability of its member |
| (D) One Person Company |
(I) A company which has only one person as a member |
(A) Companies Limited by Shares- (IV) The liability of its members is limited to the extent of the nominal value of shares held by them.
Companies Limited by Shares: In this case, the liability of its members is limited to the extent of the nominal value of shares held by them. If a member has paid the full amount of the shares, there is no liability on his part whatsoever may be for the debts of the company. He need not pay a single paise from his private property. However, if there is any liability involved, it can be enforced during the existence of the company as well as during the winding up.
(B) Companies Limited by Guarantee- (III) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound 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.
(C) Unlimited Companies- (II) There is no limit on the liability of its member.
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.
(D) One Person Company- (I) A company which has only one person as a member.
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. | 
