Eligibility to be in the director board of a pvt ltd company

Saj (Querist) 22 February 2010 This query is : Resolved
Is there any law telling that, the investor owns certain amount (%) of equity has to be in the director board of the company.

For instance, where is the position of an investor owns 3.5% of the total equity in a private limited company.

Any suggestion would be highly appreciated.

Saj

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A V Vishal (Expert) 22 February 2010
Is there any law telling that, the investor owns certain amount (%) of equity has to be in the director board of the company.

Ans. No, there is no law but the rule for holding of qualification shares is described in the Articles of Association.

For instance, where is the position of an investor owns 3.5% of the total equity in a private limited company.

Ans. Refer to what the articles speak on the issue.

Raj Kumar Makkad (Expert) 22 February 2010
There is no such legal requirement.

Dr.Anjani Kumar Vaidyasen,09431271130,Patna (Expert) 22 February 2010
Dear Sir,
The company came into existence after obtaining of the Certification of Incorporation by the ROC of State region.
The Incorporation Certificates are attached with the MOA & AOA which provides in details the rules and law of the company.
I would like to suggest you that you should foloow the rules and regulation of the company otherwise you arrange us to send the AOA and MOA through my emailid-akvaidyasen@gmail.com and thereafter I can suggest you the best advise to resolve your problem.
Thanks
Anjani kumar Vaidyasen