Resignation of directors

This query is : Resolved

suresh kumar (Querist)
Follow

22 March 2012 what is liability of retired directors in a company . The director is retired three years back. If he got any legal notice in respect of company matter. please give suggestions

Charu Srivastava

Charu Srivastava (Expert)
Follow

22 March 2012 After retirement there is no liablity on the directors.

But if there is default during the tenure of the Directors, then he shall be held liable.

Jiten Gupta

Jiten Gupta (Expert)
Follow

23 March 2012 After retirement, Director is no more liable for any act done by company thereafter!!

But if the Director did not serve the resignation in written and/or by E-Mail and company also did not file E-Form 32, He shall be held liable!!

Upgrade to CAclubindia Pro. Subscribe Now!