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KKumarSharma (Partner)     03 December 2014

Director of a pvt ltd company

Hi, 

I would like to know if while incorporating a Pvt Ltd firm in India :

  1. The director can be someone with a full time job - with an MNC?
  2. The director can be someone with a full time job in a government sector?
  3. Shareholder could be someone working with the government ?
  4. Director could be someone working with the government ?

Thanks anticipating a quick expert view.



Learning

 2 Replies

Advocate Vipin Raturi Delhi (ADVOCATE )     04 December 2014

 Kanika!

As per your above referred queries,  As per new company Act, 2013 act is  silent on this,

As per section 149(1) every company shall have a Board of Director  consisting of Individual as director.

Two in case of Private Company

1. Duties of Director under the new India company act-2013

A Director of a company shall act in accordance with the Articles of Association (AoA) of the Company.

It means unless the Articles of Association of the Company  not restriction above such thing  Director Can do the job in MNC and with the Gov.

2. But one of them,  there should be full time Director In Pvt. Ltd Company.

Vipin Raturi

Advocate

 

 

 

 

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DR.VEDULA GOPINATH (ADVOCATE AND CORPORAE ADVISOR)     07 December 2014

madam

 

                 Company Law permits a person to be a director  who is major having contractual capacity and not of unsound mind and declared insolvent etc. (court not convicted him for moral turpitude etc.)

                  Reg. Govt. employee to become a director, Govt. service rules does not permit such an involvement in letter and spirit.

                  Normally director (who is neither a Mg.Dir nor w.t. director or independent director) attend to Board meetings and contributes and guide the Company business plan and governance among others.

Thus there is no reason why an employee working full time elsewhere cannot be appointed as a part time director in a company.  Further you said a private limited company and rules applicable to private limited companies are less rigid when compared to Public limited company and listed company.

                  You can refer me a specific case to advise you in detail

 

                        cs. dr vedula gopinath

                        advocate and corporate advisor    vgnath@gmail.com

                        

 

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