Director indemnity against post strikeoff claims requires a written undertaking by every director when striking off under Section 248. Directors seeking strike off under Section 248 must declare no assets or liabilities, confirm the company's inoperative status, and furnish an indemnity bond. Each director undertakes to indemnify claimants and any persons for lawful claims or losses arising after striking off, including liabilities not known at the time of filing, and must execute the bond with signatures and witness details.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Director indemnity against post strikeoff claims requires a written undertaking by every director when striking off under Section 248.
Directors seeking strike off under Section 248 must declare no assets or liabilities, confirm the company's inoperative status, and furnish an indemnity bond. Each director undertakes to indemnify claimants and any persons for lawful claims or losses arising after striking off, including liabilities not known at the time of filing, and must execute the bond with signatures and witness details.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
