Director liability
This query is : Resolved
29 May 2015
Dear friends,
a private limited co. in which two director are equally hold share capital of Rs. 50000/- each . one director on them want to transfer his share capital to second director and also wants to resign from director office.
my question is whether the director who wants to resign and transfer hi share is liable in future for any activity done by the company in past before his resignation.
Thanks
a private limited co. in which two director are equally hold share capital of Rs. 50000/- each . one director on them want to transfer his share capital to second director and also wants to resign from director office.
my question is whether the director who wants to resign and transfer hi share is liable in future for any activity done by the company in past before his resignation.
Thanks
Swati Sethi
(Expert)
02 June 2015
Yes.. Director will always be liable for his acts done in the Company during his tenure. There are many judgements on this too.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
