Can a director receoved payment on behalf of company

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Self Employed

85 Points Posted on 27 July 2012

Dear All

ABC Pvt. Ltd. sold fixed assets to XYZ. XYZ Paid amount to Directors saving bank account. my question is

* Can directors of company received payment on behalf of company?

* Can directors of company pay to Companies liabilities e.g. Bank OD, Creditors, Share Holder or Share Application Money?

* If yes, please give reference/ notifications

Thanks

Replies (2)

Employed at Cipla Ltd.

1637 Points Posted on 27 July 2012

Yes, directors being agents of the company can of course receive or make payments on behalf of the company.

proprietor

22 Points Posted on 20 August 2022

have u any case laws or reference section ?

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