Is Ex-Director of company liable for payment to subscribers amount
I am ex director in one the chits company in Bangalore(Private limited) quit directorship in the year 2012.Till 2012 their were no payment default to subscribers as company started 20 months back.
Few complaints are registered with Registrar of co operative societies claiming that this company 's subscribers are not been paid their chit amount against current and all old directors who have resigned.Registrar of co operative r societies has considered this case and is filling FIR against all current and ex directors sighting that they mere resignation from company will not take away liability of non payment to subscibers.
My question is Is ex director of CHits company liable for payment to subscribers amount?
Asked 2 years ago in Criminal Law from Bangalore, Karnataka