Basis for Calculation of No of Directorships u/s 278
This query is : Resolved
Ravi Kumar.S
(Querist)
26 June 2008
Whether directorship in the subsidary company (including foreign subsidary) will be considered for calculating the cealing Limit u/s 278 or not.
I am very greatful if you clarify the same.
thanking you
I am very greatful if you clarify the same.
thanking you
CA Anand Sarda
(Expert)
26 June 2008
As per the relevant section, it says while calculating the number of companies for directorship, the following companies should be excluded-
1) A private company which is not a subsidiary of public company.
2) An unlimited company
3) Sec 25 Company
4) A company in which he is only a alternate director.
It is clear that directorship in subsidiary company should be considered for maximum number and as well foreign company membership also.
1) A private company which is not a subsidiary of public company.
2) An unlimited company
3) Sec 25 Company
4) A company in which he is only a alternate director.
It is clear that directorship in subsidiary company should be considered for maximum number and as well foreign company membership also.
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