Director standing surety to outsider - Instructions to directors not to expose themselves to risk of standing sureties for accused persons

Director standing surety to outsider - Instructions to directors not to expose themselves to risk of standing sureties for accused persons https://www.taxtmi.com/circulars?id=10879 A government circular warns that a director furnishing the company's surety for an outsider accused in criminal proceedings is ultra vires and may be prejudicial to the company's interests; directors are instructed not to expose themselves or the company to the risk of standing sureties for accused outsiders because such conduct may attract personal liability for acting outside corporate authority. en-us Sat, 17 Jan 1976 00:00:00 +0530 Fri, 17 Jun 2011 15:33:00 +0530 TaxTMI RSS Generator Director standing surety to outsider - Instructions to directors not to expose themselves to risk of standing sureties for accused persons https://www.taxtmi.com/circulars?id=10879 A government circular warns that a director furnishing the company's surety for an outsider accused in criminal proceedings is ultra vires and may be prejudicial to the company's interests; directors are instructed not to expose themselves or the company to the risk of standing sureties for accused outsiders because such conduct may attract personal liability for acting outside corporate authority. Circulars Companies Law Sat, 17 Jan 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10879