Legal Question in Business Law in India

In our city a husband wife team started a PVT LTD COMPANY.They were Directors.After 4 to 5 years first the wife resigned and appointed a jobless person as director by filing the required form no 32.They were heavily in debt.After some time the husband ,THE ORIGINAL DIRECTOR AMONG THE HUSBAND -WIFE DUO Also resigned and made their manager DRAWING 5000 rs P.M. as a DIRECTOR.They have cheated all and sundry to a tune of 10 to 15 crore.While they were doing this they posed themselves as directors and to give creditibility they operated from the old office WHICH IS PART OF THEIR HOUSE AND THEY STILL LIVE THERE.THE WORLD ONLY CAME TO KNOW ABOUT THIS CHEATING WHEN THE CHQ STARTED BOUNCING AND ALL THE CASES OF 138 FELL APART ON THE POINT OF LAW,THAT THEY WERE SIGNED BY THE NEW DIRECTOR WHO WAS THE MANAGER.HENCE THE ACCUSED CANT BE SUED.They owe me approx 1 cr.I filed a civil as well as criminal case in 2002.Shuttling between Trial Court and HON'BLE High court now my case is moving.The original Director had given me 2 chqs of 25 lacs each.It was his personal liability.The chqs were dishonoured.He paid me 25 lacs and requested me that he will pay the rest soon.Now the accqused has informed the hon'ble court that since they (husband /wife)are no more directors they are not liable to pay an ymoney.ROC rep.informed the court where he was summoned that this PVT LTD company has not filed any balance sheet from last TEN YEARS and do not know the share holding pattern.Q.is the change of director is valid?what action should i take.Can there be a company with crores of rs of libilty have 2 financially weak people say ACCUSEDS MANAGER,(WITH APOLOGY) SOME MANUAL HELP IN THE HOUSE ?CAN THESE PEOPLE RUN A PVT LTD CO WITHOUT HOLDING OR INVESTING A SINGLE PAISA? WHAT IS ROC's RESPONSIBILITY?


Asked on 10/08/10, 9:02 am

1 Answer from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

It appears that you are not well advised in the matter.

After knowing all the above facts, you should have initiated appropriate civil and criminal action based on the promises, deceptions etc. of that couple.

Be well advised to get better results.

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Answered on 10/08/10, 9:45 pm


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