Misapprociation of Fund by Director
This query is : Resolved
Nitesh Jain
(Querist)
17 June 2010
One of the Director of the company purchased a property at very high rate.
Now what actions company can initiate against that director under the Companies Act, 1956
Now what actions company can initiate against that director under the Companies Act, 1956
Ankur Garg
(Expert)
18 June 2010
Hi,
This activity from director is a misuse of his fiduciary position and breach of trust. He is liable to repay the secrete profit earned by the said transaction. As per my understanding a civil suit can be filed against the director to recover the money.
For more specific solution go for a legal advice
Best Regards
This activity from director is a misuse of his fiduciary position and breach of trust. He is liable to repay the secrete profit earned by the said transaction. As per my understanding a civil suit can be filed against the director to recover the money.
For more specific solution go for a legal advice
Best Regards
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