India  |  Securities Law

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5/11/11, 10:20 pm

Legal Question


i was an independent director in an indian limited company which took loans from banks and defaulted repayments.

the banks approached drt for recovery of the dues.

presently drt served a notice u/s 34[4].

while i was the independent director i did not stand guarantee to any loans/debts.

i now request you to kindly indicate to what extent iam liable for the debts incurred by the company.


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