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Asset audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 December 2010 can company held the assets like car in the name of director??
plz give ur opinion and provide me reference for the same.
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
08 December 2010 The company cannot hold its assets in the name of director as it's a separate legal entity capable of acquiring assets in its own name. The directors are appointed by the shareholders to manage the affairs of the company and stand in a fiduciary position to the company.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 December 2010 thanx.. cn u give me any reference at which i cn found the said wordings.?
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