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Resigned as director can I claim royalty in the assets of the company


29-Jun-2023 (In Corporate Law)
Hello, I resigned from director post of a pvt ltd company some months back for personal reasons(me and one more director were a part of company for 6 years), the company is making good revenues and is profitable when i resigned as well. At the time of resigning i asked existing and incoming directors to pay me royalty for receipt of income per month however they deny and didn't give me anything. Now when i was in company, we built quite a few assets(car, infrastructure) etc. Can I legally lay claim on royalty or the share in assets of the company ? Which law governs this ? Thanks.
Answers (2)

Answer #1
697 votes
Dear Sir,

Thank you for your e-mail.

We would require more information regarding your role and your conditions at the time of leaving the company to provide you a better opinion.

You may contact us in case you need anything further.

Regards,
Saurabh
Answer #2
638 votes
Generally, Director are entitle which are there in the contract executed at the time of joining, not otherwise, if something is there for Royalty or other benefits after resignation, you can certainly entitle.

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