Liability of additional director
This query is : Resolved
CA Vikas Kaushal
(Querist)
31 August 2009
m working in a bank
and the policy of our bank is to get the loan documents signed by all the directors...
nw my query is will the additional directors also be liable to sign..
and wht will be his liability in case of default
secondly wht will be his liability in case of default if he is not reappointed after the AGM
and the policy of our bank is to get the loan documents signed by all the directors...
nw my query is will the additional directors also be liable to sign..
and wht will be his liability in case of default
secondly wht will be his liability in case of default if he is not reappointed after the AGM
Ankur Garg
(Expert)
01 September 2009
During his term as additional directors he has all the powers of a director. He can sign the docs and fully liable.
If he is not reappointed after the AGM then for the pre and post AGM work of co. he is not liable.
If he is not reappointed after the AGM then for the pre and post AGM work of co. he is not liable.
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