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Maximum no. of companies held by same director (LAW)

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This query is : Resolved



( Author )
05 April 2010

Hi..I want to ask that what is the maximum no. of companies held by the same director..
Plz reply soon
Thanks


CA Ravi sisodia

( Expert )
05 April 2010

Maximium 15 companies(excluding certain companies).


CS Vandana Kacholia

( Expert )
06 April 2010

well agree according to section 275 a person can be a director in 15 companies excluding certain companies which is according to section 278 is as follows:

278. Exclusion of certain directorships for the purposes of sections 275, 276 and 277
(1) In calculating, for the purposes of sections 275, 276 and 277, the number of companies of which a person may be a director, the following companies shall be excluded, namely:-
(a) a private company which is neither a subsidiary nor a holding company of a public company;
(b) an unlimited company;
(c) an association not carrying on business for profit or which prohibits the payment of a dividend;
(d) a company in which such person is only an alternate director, that is to say, a director who is only qualified to act as such during the absence or incapacity of some other director.
(2) In making the calculation aforesaid, any company referred to in clauses (a), (b) and (c) of sub-section (1) shall be excluded for a period of three months from the date on which the company ceases to fall within the purview of those clauses.




Regards


Kamal sodhi

( Expert )
06 April 2010

15


CMA Arif Farooqui

( Expert )
10 April 2010

yes 15


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