Rights, Duties, Liabilities & Assets of Director.
This query is : Resolved
21 February 2008
Myself became a director of a private Ltd. Co. and it is trading concern. This co. is of my relatives and I am not involved in this company neither I invest anything nor I withdraw any amount. Later days can any liability put on me on behalf of company? Am I responsible to pay any liability of company?
Waiting for reply ...
Pradip Pandey
Waiting for reply ...
Pradip Pandey
21 February 2008
You are not investing anything & not withdrawing anything but working as an MD. Eventhough you are a related party.
Keep all legal docs.No liability will put on you.
you are working in the position of MD eventhough you are a related party .
You are not investing anything & not withdrawing anything but working as an MD. Eventhough you are a related party.
Keep all legal docs.No liability will put on you.
you are working in the position of MD eventhough you are a related party .
21 February 2008
For any acts of negligence by the company a director may be issued a show cause notice/warrant. The onus of proving the at he was not a party to such an act is squarely on the director.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
