Personal liability of the directors

Sowmya.S.Balan (Paid Assistant) (749 Points)

05 July 2013  

Dears,

 

  1. One private limited company accepts loan from a co operative society without executing any collateral security. Now the company defaults in payment of principal and interest . what is the remedy available against the company ? can it be recover from the personal assets of the directors ?
  2. One private limited company taken on lease one property for the company. After executing the lease agreement the existing two directors changed and new two directors appointed. They misutilise the leased property. What is the remedy available against the company ? whether the direct ors are personally liable?

Please help me its very urgent