Minimum Directors for PVT LTD Co.

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(Querist)


15 May 2009

Dear all,

URGENT!!!

I am working in a PVT. LTD> Company which is a wholly owned subsidiary of foreign company and they are having one foreign director and one Indian Director on the board.

MY Question is- as per companies act- we should have min. 2 directors on board,but it is no where mentioned about the above scenario- then would it suffice campanies act provision in this case OR the indian company should have two Indian directors compusorily?

Regards,

Amit Deokule

Regards,


CS Vivek Hegde (Expert)


15 May 2009

Dear Amit

Companies Act says there should be 2 Directors in a private Co. It does not say whtr they shold b Indians.

Therefore if u have 2 directors (whether India or Foreigner)its well within the Provisions of the Act.

rgds

Vivek


Vishal A V (Expert)


15 May 2009

Dear Vivek

If both the directors are foreigners, what is the status of the company can it be called a Indian company or a Foreign company or as a subsidary of a foreign company (since management is completely by foreigners)


CS Vivek Hegde (Expert)


15 May 2009

Dear Vishal

Even if both the directors are foreigners it is Indian Co only..

rgds

Vivek


Ankur Garg (Expert)


15 May 2009

Agree with Vivek.

Companies Act says there should be 2 Directors in a private Co. Regarding there nationality the law is silent.

As your company is registered under Companies Act, 1956, even if both the directors are foreigner, the status of company would remain the same.

Regards




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