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As a director of the company he can report the car stolen.
Unless you are authorised to take it by the company the director can report it stolen.
Having said this the police may not get involved because there is a family connection and may say it is a civil matter.
But under the law it can be reported by him if he is the director.
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If the police call you then you can tell them what happened,
If you are a director as well then you could not have stolen it.
Also is this a family law issue?