Appointment of an employee as Alternate Director

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Ranganath T K (Querist)
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08 July 2009 When a senior employee is appointed as an alternate director to a foreign director will the provisions of sec 314 be attracted? There is a 1964 DCA circular confirming this, but is there any more recent ruling on this?

Ankur Garg

Ankur Garg (Expert)
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08 July 2009 Hi,

There is no doubt about the applicability of Section 314 on the above mentioned senior employee. Sir I have checked some of latest amendments but I didn’t find anything. So you may go ahead with this interpretation and 1964 DCA circular.

However views of other Experts solicited.

Best Regards

Ranganath T K

Ranganath T K (Querist)
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08 July 2009 Thanks for the reply.

I presume a number of companies, with some sort of foreign participation, do appoint their employees - particularly CFOs, as alternate directors. It will be good if someone has a first hand experience on this

Ankur Garg

Ankur Garg (Expert)
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08 July 2009 Agree with you Sir.

It will indeed a good first hand experience for any professional.

Regards

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