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Please file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you...
Wazzeer Professional Network
ProfessionalI was working in a Private Limited Company since August 2001. The company has taken cash credit limit from a PSU bank in 2005 that becomes RS.20 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, the company declared itself as bankrupt as they were not able to pay interest, but at the time of the appointment of my directorship, they hid the fact. In November 2012 bank sealed our both offices and I came to know that later. Therefore, I gave resignation from my earlier company but they not yet accepted my resignation because there were only three directors available at that time. Since November 2012 I have been working in a different company. Can that PSU bank charge any claim against cash credit from me? Secondly, I did not give any personal guarantee from my end for that bank loan. Please help me as I am a salaried person and don't know what will happen next.
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Wazzeer Professional Network
ProfessionalPlease file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you will also be served a notice since you are also one of the representatives of the company. However, you can plead that you have resigned and hence be removed from the list of representatives of the company. Even in the case, this is not allowed the court also cannot create any personal charge against you.
In case you need any assistance in legal or accounting or secretarial services, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
about 4 years ago
Please file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you...
Wazzeer Professional Network
ProfessionalI was working in a Private Limited Company since August 2001. The company has taken cash credit limit from a PSU bank in 2005 that becomes RS.20 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, the company declared itself as bankrupt as they were not able to pay interest, but at the time of the appointment of my directorship, they hid the fact. In November 2012 bank sealed our both offices and I came to know that later. Therefore, I gave resignation from my earlier company but they not yet accepted my resignation because there were only three directors available at that time. Since November 2012 I have been working in a different company. Can that PSU bank charge any claim against cash credit from me? Secondly, I did not give any personal guarantee from my end for that bank loan. Please help me as I am a salaried person and don't know what will happen next.
-
Wazzeer Professional Network
ProfessionalPlease file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you will also be served a notice since you are also one of the representatives of the company. However, you can plead that you have resigned and hence be removed from the list of representatives of the company. Even in the case, this is not allowed the court also cannot create any personal charge against you.
In case you need any assistance in legal or accounting or secretarial services, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
about 4 years ago
Please file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you...
Wazzeer Professional Network
ProfessionalI was working in a Private Limited Company since August 2001. The company has taken cash credit limit from a PSU bank in 2005 that becomes RS.20 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, the company declared itself as bankrupt as they were not able to pay interest, but at the time of the appointment of my directorship, they hid the fact. In November 2012 bank sealed our both offices and I came to know that later. Therefore, I gave resignation from my earlier company but they not yet accepted my resignation because there were only three directors available at that time. Since November 2012 I have been working in a different company. Can that PSU bank charge any claim against cash credit from me? Secondly, I did not give any personal guarantee from my end for that bank loan. Please help me as I am a salaried person and don't know what will happen next.
-
Wazzeer Professional Network
ProfessionalPlease file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you will also be served a notice since you are also one of the representatives of the company. However, you can plead that you have resigned and hence be removed from the list of representatives of the company. Even in the case, this is not allowed the court also cannot create any personal charge against you.
In case you need any assistance in legal or accounting or secretarial services, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
about 4 years ago
View answer
I was working in a Private Limited Company since August 2001. The company has taken cash credit limit from a PSU bank in 2005 that becomes RS.20 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, the company declared itself as bankrupt as they were not able to pay interest, but at the time of the appointment of my directorship, they hid the fact. In November 2012 bank sealed our both offices and I came to know that later. Therefore, I gave resignation from my earlier company but they not yet accepted my resignation because there were only three directors available at that time. Since November 2012 I have been working in a different company. Can that PSU bank charge any claim against cash credit from me? Secondly, I did not give any personal guarantee from my end for that bank loan. Please help me as I am a salaried person and don't know what will happen next.
-
Wazzeer Professional Network
ProfessionalPlease file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you will also be served a notice since you are also one of the representatives of the company. However, you can plead that you have resigned and hence be removed from the list of representatives of the company. Even in the case, this is not allowed the court also cannot create any personal charge against you.
In case you need any assistance in legal or accounting or secretarial services, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
about 4 years ago -
Wazzeer Professional Network
ProfessionalPlease file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you will also be served a notice since you are also one of the representatives of the company. However, you can plead that you have resigned and hence be removed from the list of representatives of the company. Even in the case, this is not allowed the court also cannot create any personal charge against you.
In case you need any assistance in legal or accounting or secretarial services, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
about 4 years ago -
Wazzeer Professional Network
ProfessionalPlease file DIR-11 with concerned RoC so that RoC is intimated on your resignation from the company. Regarding the loan, the PSU has given a loan to the company and since you have not given any personal guarantee, the bank cannot have any claim against your personal assets. Though the case will be filed against the company, as one of the Directors you will also be served a notice since you are also one of the representatives of the company. However, you can plead that you have resigned and hence be removed from the list of representatives of the company. Even in the case, this is not allowed the court also cannot create any personal charge against you.
In case you need any assistance in legal or accounting or secretarial services, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
about 4 years ago
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