I joined Pvt Ltd company in education field in Aug 15 as a non executive director. The company was registered in April 15. One director resigned stating other engagements but he is still a shareholder. I came to know about huge liabilities company had in October 15. The first director went to native place in UP for diwali and is not returning now claiming one or another illness. Now the creditors are threatening me for settlement of liabilities. i don't know financial commitments of the past. What could be way out for me? Business had good revenue earnings as such liabilities should not be there. What could be a way out for me?
Asked 8 years ago in Criminal Law
Religion: Hindu
Thank you very much for the replies. Suggestion was to resign from the company. But whom to send resignation since there is only one more director left and he is in native place.
Asked 8 years ago
Thank all for suggestions. Almost every one has suggested to resign. Now that the director has returned I tried to resolve internal issues. However the financial problems still remains. I had given my resignation by hand but he is not accepting it. What could be the process to prove I have put up the resignation. Can the resignation still be rejected? I don't have company's assets or money with me. I am non executive director but shareholder with 40% share holding
Asked 8 years ago