Legal Question in Business Law in India

Hello,

I own a 10% stake in a private Limited company in India and 90% is owned by an American Resident. The company is facing a loss and has liability of $20000 in the market.

The American owner says close the company and he will not paya dime. What is my liabilty here, I am also appointed director in the company.

The liabilty includes Govt taxes also.

Thanks for your help.


Asked on 7/19/10, 8:14 am

2 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

as it is a private limited company, so your liability is only restricted to the extent of 10%.

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Answered on 7/20/10, 2:00 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

since your liability can be restricted to the extent of your share, the creditors may seek winding up of the company and recover their dues from what ever assets are there. otherwise, the court may wind up the company.

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Answered on 7/22/10, 7:31 pm


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