Director of Pvt.ltd.

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pradnya (Querist)
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29 December 2010 1.whether full time employee of XYZ Co.is eligible to become director of ABC Pvt.Ltd.Company?

2.If yes can he become Executive director?

3.Any restrictions for being director of Pvt.Ltd.Company.

4.Whether out of two directors at least one should be Executive director?

CA Manikandan.A.V

CA Manikandan.A.V (Expert)
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29 December 2010 A Full time employee can become director in the same company. He can also be appointed as a non-executive director in another private limited company.

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Ajay Mishra

Ajay Mishra (Expert)
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29 December 2010

Hi

Yes, you can appoint an employee as director of the private company.

Regards
CS Ajay Mishra

NEHA SARAF (Mcom, CA , CS)

NEHA SARAF (Mcom, CA , CS) (Expert)
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29 December 2010 agreed with above expert

Jayashree S Iyer

Jayashree S Iyer (Expert)
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30 December 2010 Yes he can be appointed as non-executive director of a private limited company, however subject to the terms of appointment of XYZ Co. Generally the appointment letter of wholetime employee contains restrictions as to accepting another employment.

pradnya

pradnya (Querist)
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30 December 2010 1.As explained above employee of XYZ Pvt.Ltd. can not become ED of ABC Pvt.Ltd.but is it compulsory that out of 2 directors of ABC Pvt.ltd at least 1 director must be ED?

2.Can practicing CA can become Executive director of Pvt.Ltd.If yes then whether he should take prior permission from ICAI.Please elaborate.

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