Director of pvt ltd company


As pvt ltd company require minimum 2 directors, one of my friend made me 2nd director of 0.0003%. Now he is not able to repay cc loan and business loan since 1yr amounting 150CR. I was not involved in any activities of company nor I have taken any compensation from it. All banks are sending notices to me too along with him. How i can safeguard myself ?
 
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Dear Mr. Shailesh,

Your company will be liable for payment of loan and being director you are responsible for the repayment.

Regards,

 

 
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Sir is there any way out
 
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