One of my client is a non-controlling director in a company where he does not have access to the bank accounts and other compliance matters. Out of trust he/she had allowed the other director to keep access to bank accounts and other compliance matters. Now it has become evident that the other directory was unscrupulous and has made a mess of the accounts including compliance issues like non-payment of Taxes etc. What legal options does my client have to take enough steps that he is subjected to minimum liabilities of the other directors misadventures?
CAclubindia
