Legal Question in Family Law in India
maharastra co-op.socities act.
after the resign the liablity of the directors? in one case there are 11 directors in there 2 experts only release from liablity but remaining 9 is not release r they liable for societies debt?
3 Answers from Attorneys
Re: maharastra co-op.socities act.
Your details are not clear.
But as far liability is concerned yes they are liable for societies debt.
Re: maharastra co-op.socities act.
Resignation may not absolve a Director from debt liabilities of the Society which debts existed on the date of his resignation, if someone had furnished his personal guarantee. However, he may not be liable for debts raised by the Society subsequent to his resignation. In any case, all the subsisting directors may be liable for the debts of the Society if they have furnished their personal guarantees.
You may need to carefully examine the Bye-laws of the Society for understanding liability of Directors indpendent of the liability of Society.
It may be better to consult a local lawyer alongwith all your documents.
Re: maharastra co-op.socities act.
I am not understandin your question.However you are request to consult a lawyer
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
