CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)
11 March 2010
What are the LIABILITIES of the Witness who is signing or have signed on the MOA / AOA as witness to all the subscribers ????
also provide the references, if any...
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 13 March 2010
nobody knows??????????????
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 13 March 2010
No serious liabilities. But there are various defences available to the subscribers. Rest everything is dependent on the court case.
Wait for other opinions or case laws.
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 13 March 2010
I got one opinion in linkedin.com
Rasesh
(CS CWA MBA (Fin) B.Com LL.B (Spl))
(6501 Points)
Replied 13 March 2010
I belive there are no liabilities to a witness under any law. However, if the witness agrees to something which is false then he would be liablie. example: Fictuitous person have been subscribers to the MOA and the witness signs to such subcription, then he would be caught under every law for which an offence has been committed by the subscribers.
CA.SKR
(CA; CS-Final (One Group); DISA (ICAI); Insolvency Professional)
(442 Points)
Replied 15 March 2010
In my opinion, there is no liability of witness who is witnessing the signatures of subscribers to MOA & AOA, provided he knows that the subscribers are genuine person. He is just witnessing that the subscribers have signed in his presence. He has nothing to do with the contents of the document he is witnessing.
Shashikala Shah
(Practising C S )
(43 Points)
Replied 05 June 2010
Very true.
Witness is just testifying that the subscribers have signed in my presence. He might be made liable only if he is wrongly testifying ( i.e., while witnessing he knew that the subscribers are not the persons they are pretending to be).
Shashikala Shah
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
