29 April 2019
Sir I am working in a private company, while my wife is working in a central government institution as faculty. I want to form a pvt ltd company where my wife will be the second partner (40% share holder, with me holding 60%). I have seen/read at this forum that while the law doesnt bar a CG employee from becoming a director, he/she would need to inform the departments/institution. I am reaching out to you for : A. Confirm that my thoughts are in compliance with the latest regulations, and that there is no illegality involved if my wife becomes a director (sleeping partner and not actively involved in day to day activities, neither getting any pecuniary benefits or profit sharing), and B. To apply for NOC, can you provide the reference to appropriate regulations that we can submit with application to enable authorities quickly issue NOC. Many thanks.
CAclubindia
