I was working in a ltd.company since august 2001.The company has taken cash credit limit from a PSU bank in 2005 that becomes RS.25 cr.in the year 2012 against mortgage of two offices and director's personal guarantee . In the year may 2012 company appointed me as an additional director without any extra facility or remuneration.In October 2012 co.declared it self as bankrupt as they are not able to pay interest an principal.I was totally unaware about the fact that my company is going to declare bankruptcy.Now bank has sealed our both offices. From November 2012 I am working in a different company. Can that PSU bank charged any claim against cash credit ??. My earlier co.not yet accepted my resignation because there are only three directors were available at that time.
Please help me as I am a salaried person and don't know what will happen next.
1 Answer from Attorneys
i will need to check the documents to ascertain your liablity.
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