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Directors liability

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16 July 2009 Please inform me what will be the directors liability in a Pvt Ltd Company if company goes insolvent.

KIYOSH
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
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.
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Ankur Garg

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Ankur Garg (Expert)
17 July 2009 In case of fraud civil or even criminal liability on case to case basis may arise.

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