EASY EXIT SCHEME 2011
namrata patil
(Querist) 24 January 2011
This query is : Resolved
COMPANIES NOT IN OPERATION HAVE OPTIONS OF AVAILING EASY EXIT SCHEME,2011. BUT FRIENDS I AM SEARCHING FOR SOLUTIONS FOR COMPANIES HAVING SECURED LOAN STILL STANDING THOUGH NOT AT ALL IN OPERATION CAN THEY PURSUE FOR THE SCHEME BY FILING AN AFFIDIVIT (BY THE DIRECTORS)WHO THEREBY ACCEPTING PERSONAL LIABILITY OF REPAYMENT OF THE LOAN STANDING .
namrata patil
(Querist) 24 January 2011
plz tell me the way for the said question.
A V Vishal
(Expert) 24 January 2011
Namrata,
It is alright you want to help your clients, but I hope you have gone through the details of the Easy Exit Scheme. Further as a article you must know that when there is a secured loan it is secured by mortgage/hypothecation of assets which is registered as a Charge. How can the liability of a company be transferred on a director. All the members of the company are equally liable for all the liabilities of the company. Kindly understand that a company is incoporated with a view to restrict the personal liability to the extent of the shares held by the members.