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Is any Legal Libilities of Equity Share Holder

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Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2010 Dear Sir,
One of my friend want to invest in a private ltd comppany.
Company showing very high groth so he is interest to take 30% of stake in that company. And he is not willing to be a part of board of director.
Now he wants to know that as a investor in equity he have any Legal or other libilities for Ex. To bank for Their OD or Govt for their tax dues or for any other activity done by the board of director.

One point also notable one of his close relative working in that company and getting Rs. 75K per month.

Thanks in advance

Regards
Kamal

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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04 January 2010 No Liability of the equity shareholders. They are only liable for their share amount or any personal guarantee given by them for Company or any documents signed by them.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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04 January 2010 No Liability of the equity shareholders. They are only liable for their share amount or any personal guarantee given by them for Company or any documents signed by them.

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