Hello,
We have a Public Limited Company. So, there must be 3 Directors. We had 9 Directors. Now all the directors have walked out and now I have only 2 Directors. What happens when you have only 2 directors?
Fageki (Student) (31 Points)
20 July 2019Hello,
We have a Public Limited Company. So, there must be 3 Directors. We had 9 Directors. Now all the directors have walked out and now I have only 2 Directors. What happens when you have only 2 directors?
Jatin Bajaj
(CS)
(2928 Points)
Replied 20 July 2019
As per Companies Amendment Act 2017 and subject to section 3A of the Companies Act 2013, if the Company carries on a business for more than the period of 6 months and each member of the Company and after the expiry of six months shall be liable for whole of the debts of the Company either severally/individually.
CAclubindia
