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Shared liabilities of directors in company closure expenses

Pvt ltd 303 views 4 replies

Hi Team,

I am director in a pvt ltd company along with 1 more person and we have shareholding in the ratio of 3:2 . Can you please tell me as per rule, how should the expenses if any in the closure of the company should be shared.

thanks.

Replies (4)
A director need not to bear any expense . although you are a shareholder too than expenses should be distributed in mutually agreed. there is no law or procedure to share the expense in ratio.

Thanks @ pritesh . Company does not have money to bear expenses. So I think directors will invest money in the company for this purpose. 

What if 1 director has shareholding of ~51% and other has shareholding of ~32% , so in this case as one of of the director has more than half shareholding, is he not liable more to bear expenses ?

 

No there is no concept of bearing expenses in any case . if possible can you give the company name.

Thanks a lot Pritesh. Do u mean to say there is no concept of bearing more expenses by director having more share holding?  I will let u kno the company name in personal chat.


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