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mylove1278 (jjgjgjg)     25 August 2011

Company act and transactions

Hi All,

Me and my friend has made a pvt ltd company and I was in full time job and my friend was dealing with the comapny.But in the bank he made me also as a joint signatory.


He made various unknown transactions through the cheque signed by me and him and he gave me confirmation through his personal email that I would not be liable for any transaction/liability occuring from those unknown transaction from that particular account and even from company.

Now when i want my directorship to be removed and he is denying and wants me to participate in the company compliance/closure of company.

My concern is if he is denying for my resignation ,so is there any alternative method to be removed from directorship since company have only 02  directors.

Somebody told me to send the resignation letter to company address and his personal address through registered post and release artcle in the local newspaper on this and mention in that i would not be held liable/responsible for anything in that company.
Please let me know if  this is right or suggest me any alternative method.

and Full time job and his email confirmation from his Personal mail id will favour my stand or not.

Please suggest any method for the removal of mine from the directorship alongwith that putme away from any liablilty/responsibility occuring from that.

Hope this thread will help those who are falsly implicated in the fraud case in companies and would appreciate affirmative responses..



1 / 1250000000th Supporter of Anna Hazzare from India ..


 1 Replies

CS Usha Nimesh (Company Secretary)     30 August 2011

As you were one of the main promoter director and joint signatory in the company you cannot deny by your responsibility because all bank transactions had been done with your joint signatures and it proves that you have done it by volition and were aware about the whole transaction. As far as bank transactions concern you must have sent a Board resolution passed in a board meeting for opening bank account and giving authorisation jointly to operate bank so your responsibility towards bank will not be ceasedby showing any email sent by your friend to you.

Rather i would suggest you to get this matter resolved amicably by taking active part in getting this company strike off if you dont want it any more, and now the procedure for getting a company stike off has been simplified by ROC which is a good news for you.

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