Liability Of Directors

Dear client this question depends on the term and condition of the agreement between between the parties however generally if the person has paid of the dues then there is no liability on the person

Yes...if the director clears all his dues with the bank in question then there will be no liability left on his/her behalf. But it will also depend upon the terms and conditions of the loan agreement executed between the parties. For more legal assistance I am just a call away.

Please check the relevant clause of personal guarantee! For accurate legal opinion, kindly consult us!