Ours very old family business and we have 4 pvt. ltd companies. We are filing company return every year as per company law. Share holders are all family members and shares are equally divided into 4 families. Out of 4 families one family’s active director in 2 companies has resigned 10 years back. In share holders list still all family’s members name are there. I want to know following details.
1) Few of the unsecured liabilities are long pending before the one family has resigned from directorship. Please explain the liabilities limited to all share holders.
2) Asset division if we need to remove out of share holder list.