Members are not allowed to become whole-time Director of a company generally. However, a member in practice may become a Managing Director or a whole-time Director of a body corporate within the meaning of the Companies Act, 1956.
Subject to the Council Guidelines of Corporate Form of practice. No, in terms of Clause (11) of Part I of First Schedule to the CA Act , in general, a Chartered Accountant in practice is not permitted to engagein any business or occupation other than the profession of Chartered Accountancy.
However, thereare following exceptions to it:- 1. A Chartered Accountant can be a director of a company (notbeing a managing director or a whole time director), unless he or any of his partners is interestedin such company as an auditor. 2. A Chartered Accountant in practice may engage in any businessor occupation with the permission granted in accordance with a resolution of the Council.