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If company's assets are not sufficient t...

If company's assets are not sufficient to pay its debt then can the balance be recovered from private assets of its members?

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No, because liability of members of company is limited to the extent of its unpaid amount of shares held by them.
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Sir Ran started a confectionery business few years back. Due to continuous losses in business he decided to close the business. He owes Rs. 4 lacs to supplier firm who he had been taking goods on credit. His business funds are insufficient to repay the debis. Can supplier recover the funds from the personal assets of Sir Ram as his business assets are insufficient to rapay the debts, why or why not.

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