Director

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Pranay Teja (Querist)
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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

Ajay Mishra (Expert)
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27 October 2012 Hi

No, the director can not holds company property in his own name.

Pranay Teja

Pranay Teja (Querist)
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27 October 2012 Cant he hol the assests even though he is authorised iin thr AOA

Ajay Mishra

Ajay Mishra (Expert)
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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.

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