Alok Vashishth (Sr. Manager) 20 April 2011
Hi,
I have resigned as a director from a pvt ltd company and also transferred my shares to another shareholder. I was also a signing authority in a bank account of company. Bank account is not yet closed by the company although I have signed all the documents to remove me as signatory from the account.
Now, if any cheque is bounced from this bank account, will I be liable for any liability.
Thanks for your advice.
Deekshitulu.V.S.R (B.Sc, B.L) 21 April 2011
If the cheque is given post your resignation, then no liability. That too every director of a company is not liable unless it is shown that he is responsible for the conduct of the business of the company
Alok Vashishth (Sr. Manager) 21 April 2011
There are PDC cheques issued before the resignation date. Will I have any liability of cheques for date later than the resignation date ??
omprakash sharma (advocate) 21 April 2011
yes if the post dated cheques are produced in bank with your sign than definatelly you are liable under sec. 141 of n.i.act. for that day when you were director and for that liability.
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