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Filing suit against a director by the company for withdrawing money


05-Apr-2023 (In Recovery Law)
One director has withdrawn 46 lacs from company. Same company wants to file money recovery suit against the same director who is removed from the company but still a minority share holders in company. Pl suggest process and relevant IPC
Answers (1)

Answer #1
627 votes
In the given instance a case of misappropriation of the funds of the company , fraud, , violation of the company laws can be filed against the saud director. Also no director gas a right to wirhdraw such a huge amount without the cinsent of the board of directors.

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