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?
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)
CAclubindia
