app of all directors as executive directors
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2011
I have a query that whether all the direcotrs may be executive directors in a unlisted public Company.
The company has only three directors out of which one is MD, one is WTD and one is non executive till now. Now the Company want to appoint the non executive director as wtd. is it fine to appoint him as wtd.
The company has only three directors out of which one is MD, one is WTD and one is non executive till now. Now the Company want to appoint the non executive director as wtd. is it fine to appoint him as wtd.
Jayashree S Iyer
(Expert)
04 March 2011
In an unlisted public companies, if the paid up capital of the Company is Rs. 5 corres, such number of directors as are required under Section 292A to be directors other than managing or whole time directors should be non executive directors. E.G. If the Audit Committee consists of 3 directors, 2 directors must be non-executive directors.
Depending on your paid up capital, you decide about the constitution of the Board.
Depending on your paid up capital, you decide about the constitution of the Board.
udit sharma
(Expert)
04 March 2011
Absolutely agreed with the expert!
Jayashree S Iyer
(Expert)
04 March 2011
However unlisted public companies having a paid up capital of < Rs.5 crores can be all its directors as WTD / MD.
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