In the case of death of a director of a private limited comp

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Rajiv (Querist)
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04 September 2012 Hello,

I would like to know:
If in case of death of a director of a private limited company, does his legal heirs get the share of company assets?
The company is de-funct for last 15 yrs now with no records available.

Thanks

Ajay Mishra

Ajay Mishra (Expert)
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04 September 2012 Hi

On the basis of director death, legal heirs can not claim company property, because director is only management person only and not a owner of a company.

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Guest

Guest (Expert)

06 September 2012 Members / shareholders are the owners of company. Directors are not owners of the company.

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Rajiv

Rajiv (Querist)
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07 September 2012 Thank you Ajay and Neha.
Request a noting on the same in company-laws or from related documentation.
Also, my number is 9320672777 and mail id - rajivpadhye@gmail.com
If you can sms me your no. I would like to call you for some case specific advice.

Guest

Guest (Expert)

07 September 2012 http://www.investopedia.com/terms/s/shareholder.asp#axzz25myfFqHN

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Rajiv

Rajiv (Querist)
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12 September 2012 Thank you so much Neha madam,
The link you shared talks about share holding.
Further, (it may sound insane) but can you share some document which suggests that only a live person can remain as a director of a private limited company?
Also, kindly suggest any document / link where-in it is explicitly mentioned that heir-ship is not valid in case of death of a director of a private limited company.

Thanks
Rajive
rajivpadhy@gmail.com

Guest

Guest (Expert)

12 September 2012 http://www.scribd.com/doc/80884571/DUTIES-AND-LIABILITIES-OF-DIRECTORS-OF-COMPANY

Guest

Guest (Expert)

12 September 2012 http://www.jagoinvestor.com/2010/10/will-your-nominee-get-the-money-on-your-death.html

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