Hi I am having doubt on the comapany formations - i.e Can a person who is already a owner/Proprietor of a company be the director of any other company?
From India, Vadodara
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418From India, Vadodara
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Yes;why not? Instances are there that a person serves as director of many companies depending upon his share-holding strength.
From India, Salem
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From India, Salem
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With all due respect to Shri Umakanthan sir, in a proprietary concern, the proprietor is solely liable for all profits and losses, if any. That is, he is liable in a personal capacity as well as a proprietor of the firm. On the other hand, as a director of a company, his liability is limited as mentioned in the MOA (Memorandum of Association). In the case of any liability arising in a proprietary concern, one can recover the liability from the assets of the sole proprietary concern as well as from the personal assets of the proprietor. In the case of a company, the director is liable to the extent mentioned in the MOA and not in his personal capacity unless and until he discharges any such type of document.
From India, Halol
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From India, Halol
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Hello everyone,
I respect others' comments and share my knowledge about company formation. Being a company secretary student, I studied company law, and it allows business owners as well as proprietors to be a part of the board of directors of other companies.
From India, undefined
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I respect others' comments and share my knowledge about company formation. Being a company secretary student, I studied company law, and it allows business owners as well as proprietors to be a part of the board of directors of other companies.
From India, undefined
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