Labour Law & Hr Consultant
Admin & Legal Officer

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?
16th June 2015 From India, Vadodara
Yes;why not? Instances are there that a person serves as director of many companies depending upon his share-holding strength.
19th July 2015 From India, Salem
With all respects to Shri Umakanthansir. In proprietory concern, the proprietor is solely liable for all profits & losses if any i.e. he is liable in perosnal capacity as well as a proprietor of the firm. On the other hand as a director of Company his share is limited as mentioned in MOA(Memorandum of Association). In case any liability arises to proprietory concern, one can recover his liability from assets of Sole proprietory concern as well from personal assets of the proprietor. In case of Company, the director is liable to the extend as mentioned in MOA and not in his personal capacity unless & until he discharge any such type of document.
7th September 2015 From India, Halol
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 owner as well as proprietor to be a part of board of directors of other companies...
25th September 2015 From India, undefined
Add Reply Start A New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2019 Cite.Co™