Directors' Duties and responsibilities
This query is : Resolved
26 October 2009
Dear all,
One of my friend is holding 26% of shares of a pvt ltd company registered as nbfc under rbi guidelines.
1) is it mandatory for him to become a director?
2) If he is an inactive board member is he liable for any mis-dealings, representations by the company?
One of my friend is holding 26% of shares of a pvt ltd company registered as nbfc under rbi guidelines.
1) is it mandatory for him to become a director?
2) If he is an inactive board member is he liable for any mis-dealings, representations by the company?
26 October 2009
No. It is not mandatory for him to become a director.
But if he chooses to be a director then he is prima facie liable for all the activity and representations made by the company.
Regards
But if he chooses to be a director then he is prima facie liable for all the activity and representations made by the company.
Regards
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Scrutiny assessments u/s 143(2) for AY 25-26
- Capital Gain on EUITY Shares
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
