banner_ad

Directors' Duties and responsibilities

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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?
Profile Image

Ankur Garg

Profile Image

Ankur Garg (Expert)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details