Rahul Joshi (MBA) (29 Points)
09 April 2016
CS Arjun Rajagopal
(B.com, ACS)
(1056 Points)
Replied 13 April 2016
Hi Rahul,
Answer to your question is no.
Please note that as per Sec. 149(3) of the Companies Act, 2013 every company shall have at least one director who has stayed in India for a total period of not less than 182 days in the previous calendar year.
Regards,
Arjun Rajagopal
Pratik Shah
(Practising Company Secretary)
(4432 Points)
Replied 13 April 2016
No..There is no such requirement. All the shareholders can be non-resident. However, Section 149(3) ask every company to have atleast Director who is resident in India.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 13 April 2016
In case of shareholders there is no such requirement, however, in case the subscribers to the memorandum are forein nationals they have to comply with Rule 13(5) of Companies (Incorporation) Rules, 2014
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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