H.M.Patnaik
(Expert) 07 August 2015
The artificial juridical personam created with the incorporation of a Company ends with the dissolution of the Company/ striking off of the Company name by the R.O.C. concerned. However, the directors of the Company can be sued in personal capacity for any act,deed done during the term of directorship of a Company under the Principle " Lifting of the Corporate Veil" .
kusam
(Querist) 18 August 2015
Company took a loan from another co 10 years back now lender co after 10 years issue a notice to closed co for recovery of loans limitation act also applied for not claiming any loan What is the liability of closed co or directors is the outgoing directors or last directors responsible for any liability occurred
kusam
(Querist) 18 August 2015
Close co had settled the loans out of books long back but no papers are with close co for loan repayment
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