Directors liability
This query is : Resolved
16 July 2009
Please inform me what will be the directors liability in a Pvt Ltd Company if company goes insolvent.
KIYOSH
KIYOSH
16 July 2009
Their liability is limited to the extent of captital contributed by them. If any fraud has happened due to which the company has beocome insolvent and due the involvement of the director in that fraud then he is responsible to reimburse the company.
17 July 2009
In case of fraud civil or even criminal liability on case to case basis may arise.
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