Individual liability of the director of a company

HEMANT (Querist) 26 June 2014 This query is : Resolved
In a private limited company where there is 5 directors coming with a individual back grounds having their separate/individual business of their own. They formed a manufacturing company under company act 1956 . The business of the company is totally different from all the directors are doing as of date .

There is a personal liability of one of the director of the company against his separate business . Can a court attach the property of the company if the particular director default in discharging his personal liability?

The real query is that a DRT court has passed a decree of attachment of property of that Director against the secured Debt. Can they attach the assets of the company where this person is a director ?

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Sankaranarayanan (Expert) 26 June 2014
What is the real query?

HEMANT (Querist) 26 June 2014
In a private limited company where there is 5 directors coming with a individual back grounds having their separate/individual business of their own. They formed a manufacturing company under company act 1956 . The business of the company is totally different from all the directors are doing as of date .

There is a personal liability of one of the director of the company against his separate business . Can a court attach the property of the company if the particular director default in discharging his personal liability?

The real query is that a DRT court has passed a decree of attachment of property of that Director against the secured Debt. Can they attach the assets of the company where this person is a director ?

Guest (Expert) 26 June 2014
I don't think the problem relates to you. Moreover, the company can well afford to hire services of some local expert to sort out the proble,.

Suhail A.Siddiqui (Expert) 26 June 2014
Incomplete facts

Rajendra K Goyal (Expert) 26 June 2014
Consult a local lawyer dealing in company affairs.

Surrender K Singal (Expert) 02 July 2014
If the liability is not related to Company, what is the botheration for other Directors ? 'decree of attachment of property of that Director against the secured Debt' ONLY has been passed, so, where is the question or fear ?

Ms.Usha Kapoor (Expert) 24 June 2018
Agree with Surender K Singhal.

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