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Which director will get property in case of dispute?
17-Oct-2023 (In Corporate Law)
There is private limited co. with 2 directors. They have bought property from an auction from a bank. Only one of the direction does all the work. Will that director have right over the property in case of dispute?
In a private limited company it is the shareholders who are the owners of a company and the properties owned by it. The percentage of shareholding determines the extent of interest in the company. Only being a Director without any shareholding is of no consequence whatever.
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Adv. Diggaj Pathak
Delhi | 25+ Answers
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If the property is in the name of the Company then both the directors will have the right over the property.If there are some debtors who needs to recover money from the company then those debtors may also have a right over the property if the company is winding up.
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Adv. Kanishk Agarwal
Delhi | 100+ Answers
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