Incorporation

No it's wrong.. director can't use companies property for his personal use

Sidarth S.sidarth

CA Inter

★ 245

22-Mar-24 14:32

How can you get such kind of doubts As you know company' is a separate legal entity, the property of the company is its own not of it's directors

Shrikant

CA Inter

★ 1K+

22-Mar-24 14:59

I want to know what are the consequences for that action

Thread Starter

Divya

CA Inter

★ 90

22-Mar-24 15:08

Director can't act against the intrest of the company, if he does he has to face the legal consequences and can be removed from the position of the director..since the director is a related party to the company he has to disclose every transaction he entered on behalf of the company in a director responsibility statement which you will learn in later sections of ca final PS : don't dig deeper into any topic there's lot to learn and remember.. Each and every second in COA has fine or imprisonment or both but asked for only 3-4 marks Just have broader idea the dig deeper slowly

Shrikant

CA Inter

★ 1K+

22-Mar-24 15:39

Ok thank you for the replies

Thread Starter

Divya

CA Inter

★ 90

22-Mar-24 15:53