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What are the liabilities of a Director of a Company
26-Feb-2023 (In Corporate Law)
i am retired now. during my service in pubic sector unit my friend appointed me as a director in his company
i did not take any salary.o activities in that company can there be a problem?
It will be proper if you take paid consultancy to compensate the lawyer's stock-in-trade required to advise you. The fact you had mentioned it is not practically possible to give legal solution to ur problem.
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Adv. Bharat Pandirao Pawar
Pune | 500+ Answers
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Hi there. From the income tax point of view no problem if you have made your intentions known in writing before taking up the assignment that you won't take any salary. From other legal point of view yes, there can be a problem. For eg in cheque bounce 138 cases, directors are usually made a party and they have to face the litigation.
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Adv. Karan Prithviraj Adik
Mumbai | 25+ Answers
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What I understand from your question that you have been appointed as a director in a private company when you were in the service of Public sector company. Please let me know whether any partnership deed has been signed by all partners in that company and you have also signed the same. In the absence of any partnership deed, your appointment as a Director is null and void.
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Adv. Johnson Thomas
Mumbai | 25+ Answers
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