27 November 2008
i want to just discuss the provision regarding the eligibility of minor to become the director of the company. In company law nowhere it is prohibited to appoint a minor as a director in the company but as per contract act minor will not be able to file his consent to the company or registrar of the company. but this sec 264(2) is not applicable in the private company and also to the public company where sec 264(2) is not applicable. for ex. appointment of director as per sec 257 or appointment of director by central government by sec 408 and some others are.
can this view is correct that in those situation a minor is being able to work in the capacity of a director of the company.
28 November 2008
No, Minor cannot be a director in private Limited Company or any other Company. When any person is appointed as director not only Companies Act but other Laws and Act also must be considered.When a minor hemself cannot make a contract,the directorship of minor is of no use where he has to perform certain work personaaly. This is the reason why any other company also cannot be made direcor as in Eye of Law it is a person still it is not a "natural Person " or say Human being.
12 January 2011
A minor cannot become a member directly in a company and the name of his guardian can alone appear in the register of members. Section 41 says that a member should agree in writing and since the minor is incapacitated in law to eneter into contarcts that requirement cannot be complied with.Please note that one need not be a member to become a director.
Be that as it may, there is no direct prohibition of a minor becoming a director. But in the case of a public company he will have to file consent to act as director under section 264 and this is not possible due to his incapacity. But section 264 is not applicable to private companies and therefore there is a view that a minor can be a director. But as rightly pointed out by the celebrated author Ramayya his post will only be ORNAMENTAL as he cannot do many things which a director is capable of doing. Probably he can vote.