LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Rajnish Kumar   06 February 2023

libality for a resigned Director of Pvt ltd company

The pvt ltd company with two director is non performing asset in books of bank since March 2019 and one of director resigned directorship on 27.04.22 as per MCA site but has already extended his personal guarantee to secure credit for pvt limited compy from bank.
Bank initiated process to declare Willful defaulter in DeC 22 as company deliberately open current account with other cooperative bank but not taken NOC in 2019 from credit financing bank as transaction of Rs 21 core done ( March19-april22) in other current account .Bank exposure with company is more than Rs 6 crore
is resigned director exempted for declaration of wilful default by bank as per company law or bank can declare him wilful defaulter?
pl guide


 1 Replies

Dr J C Vashista (Advocate)     07 February 2023

Of course the resigned director is liable

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register