Legal Question in Business Law in
Can liabilities be shared between sister concerns,
can two companies be called sister concerns only if the directors are friends, but their is no cross holding of any capital, share
Asked on 2/12/11, 1:24 am
1 Answer from Attorneys
Vishwa Arya
Arya & Co.
the answer is no for both your question. if fact, the company law does not recognize the term sister concerns. even if the directors are same in two different companies, the liabilities are independent.
Answered on 2/12/11, 3:53 am
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