Legal Question in Securities Law in India
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.
Asked on 5/11/11, 10:20 pm
1 Answer from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
as it is a limited company, so your liability is only limited and may not be held personally liable for the loans/debts.
Answered on 5/11/11, 10:32 pm
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