Kumar Kumar (owner) 27 December 2012

How to leave a pvt ltd co if you have foreign directors also

I am employed with a foreign co. Initially hired as regional director for india.Later we formed Indian private limited co and i was made 5% director. Balance 95% with 2 foreign directors. Co was registered as per ROC guidelines. I am Authorised signatory for India

I now want to exit because co is making no monies. Earlier foreign directors used to transfer money to pay my salary but now even that is stopped for 5 months.

(A) I have put an email to foreign director that I am leaving. What more should I do, so that in future I am not aiuthorised signatory and should not be responsible for any liabilities.

B) Can I claim my outstanding monies ( salaries)

please help

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1 Replies

Advocate Rohit (Advocate) 28 December 2012

Yes you can claim all your legitimate dues including salary. Company needs to inform ROC also about your resignation form the company so that in the ROC record your name as director should not appear.

Further, they need to inform Banks also that you are no more working with them and hence your signature should not be accepted by the bank any more.

If the Company fails to do so then you need to publish the said facts in the 2 local news paper so that general public, vendors could be informed about it.

Regards,

Advocate Rohit Dalmia

9324538481

Mumbai