Director
This query is : Resolved
Pranay Teja
(Querist)
27 October 2012
Can a director hold the assets of the company in his name.If also what are the formalities to be complied?
Ajay Mishra
(Expert)
27 October 2012
Hi
No, the director can not holds company property in his own name.
No, the director can not holds company property in his own name.
Pranay Teja
(Querist)
27 October 2012
Cant he hol the assests even though he is authorised iin thr AOA
Ajay Mishra
(Expert)
27 October 2012
Hi
The director act on behalf of the company and its power is given in company. The article only says that he will be Representative of company property but not take ownership.
In the ordinary sense a director is someone who administers, controls or directs something, especially a member of a commercial company; one who supervises, controls or manages; a person elected by the shareholders of a company to direct company's policies; person appointed or elected according to law, authorised to manage and direct the affairs of a company.
The director act on behalf of the company and its power is given in company. The article only says that he will be Representative of company property but not take ownership.
In the ordinary sense a director is someone who administers, controls or directs something, especially a member of a commercial company; one who supervises, controls or manages; a person elected by the shareholders of a company to direct company's policies; person appointed or elected according to law, authorised to manage and direct the affairs of a company.
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