director without any liability
This query is : Resolved
UMESH RAVANI
(Querist)
09 December 2008
Please tell me is there any provison are there in comapnies act under which any person become director but without any legal liability, other than liability to the extent of shares only.
please give if yes then under which section.
thanks
please give if yes then under which section.
thanks
CS Vivek Hegde
(Expert)
14 December 2008
UMESH
Right now there is no such provision in the companies Act. I hope in future also there wl be no such provisions. Director means the persons who are responsiblr for the operations of the company. Obviously therei s a liability.
Pls note that a director is not under the compulsion to hold any shares.
rgds
Vivek
Right now there is no such provision in the companies Act. I hope in future also there wl be no such provisions. Director means the persons who are responsiblr for the operations of the company. Obviously therei s a liability.
Pls note that a director is not under the compulsion to hold any shares.
rgds
Vivek
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 REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
