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director ship of directors in two companies carrying same business

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(Querist)
16 August 2016 Can a director of a private limited company in India become director of another private limited company in India, carrying on the same business? If yes, then what is the procedure for the same?
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CA SUNIL K GARG

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CA SUNIL K GARG (Expert)
16 August 2016 There is no issue in becoming a director with another company having same business.However as per section 164(2) and rule 14(1) of Companies (Appointment and Qualification of Directors) Rules, 2014, he has to declare his interest in other companies as director and also in MBP-1
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