Directors rights in pvt ltd company
shailendra paltan jaiswal
(Querist) 15 April 2012
This query is : Resolved
sir i am a director of one of the pvt ltd from company last two years.sir my CEO and MD they never took any agm meeting of directors in last two years. even they have not provided the two year audit reports of the company. they take loan from out side non banking source without informing to other directors.they never give any information of expenses before doing. sir pl.inform should i take any legal action against them. regards s.jaiswal
ajay sethi
(Expert) 15 April 2012
adress letter to CEO nad MD pointing that in breach of tsatutory provisions no AGm is being held . no sanction of baord of directors are taken before obtaining loans .
resgn as director . if you so desire you cna inform the Registrar of companies too
Arun Kumar Bhagat
(Expert) 15 April 2012
Do as directed by Mr.Sethi. Directors are also responsible for criminal action taken against wrongdoing of the Company. Better resign immediately citing aforesaid reasons otherwise you may fall in great problem.
prabhakar singh
(Expert) 15 April 2012
मैं अपने विद्जनो द्वारा की गयी अभिव्यक्ति से सहमत हूँ
Raj Kumar Makkad
(Expert) 15 April 2012
In the given facts, you should make complaint in writing to the Registrar of the Companies and may even demand winding up of the company as the rules are openly been violated by MD. It seems that MD has made up his mind to get benefit as much he can within a short period and then flee from the scene making responsible to you and all other directors of the company as every director is personally liable for the liabilities of the company.
There is no need to serve any notice to MD.
