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Liabilty of whole time director
What would be the liabilty of whole time director if the company fails to pay bank debt secured against stock and property and if director is liable how can he escape from paying it
Replies (1)
I think in this the director shall not be lible in such a case
Since if a company become financialy unable to pay its debts its legaly liable to compulsory Liquidation. Hence in such a case even there is short of payments then contributors are called up for payments...
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