Legal Question in Business Law in India
If a Property is purchased in the name of Managing director.
Dear Sir,
Please tell me if the property is purchased in the name of managing director after passing a resolution from the board of the directors, i.e. such and such property is to be purchased for the company and the signing authority will be the Mr. so and so who is the managing director of the company. Tell me whether I can claim my part of share in that property being a director of the company or not?
4 Answers from Attorneys
Re: If a Property is purchased in the name of Managing director.
The property belongs to the company and not the MD
Re: If a Property is purchased in the name of Managing director.
Bottomline, property belongs to company.
Nobody has the share in the property unless and untill the company is closed and share distributed among the shareholders.
Re: If a Property is purchased in the name of Managing director.
yes u can
Re: If a Property is purchased in the name of Managing director.
Managing Director is liable and responsible for and on behalf of company.Managing Director is the signing authority for and on behalf of company.For more advice contact personally.
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