appointment of director
This query is : Resolved
28 August 2010
Can HUF become the director of the company under Companies Act.
If Yes, then the shares should be held in the name of the HUF or the Karta ?
If Yes, then the shares should be held in the name of the HUF or the Karta ?
28 August 2010
No HUF cannot be director.
Shares can be held by the HUF but it would always be through its karta.
Shares can be held by the HUF but it would always be through its karta.
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28 August 2010
NOT UNDERSTAND PROPERLY.....
EXPLAIN IN DETAIL............
EXPLAIN IN DETAIL............
28 August 2010
A HUF cannot be appointed as director of the company. Only individuals can be directors.
HUF can hold shares in its own name but it would alsways be XYZ HUF (Thorugh its Karta XYZ).
HUF can hold shares in its own name but it would alsways be XYZ HUF (Thorugh its Karta XYZ).
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28 August 2010
Section 253 of the Companies Act,1956 says only individual's can be appointed as directors of a company. This legislative restriction has also been reiterated by the Supreme court in the case of Oriental Metal Pressing Works (P) Ltd V Bhaskar Kashinath Thakoor (1961) 31 Com Cases 143. As such an HUF cannot be appointed as director in a company.
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29 August 2010
thanks a lot
now clear
now clear
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