23 October 2011
CA in whole time can't be executive director in any company...it can be guilty of professsional misconduct..if he take appoinment as executive director....A ca can be secretary,Non executive director, promoter in a company
24 October 2011
Clause 11 of part I of schedule restricts the same however there is no bar as per regulation 192A to become non executive director of company if none of relatives or partner is interested in such company.
25 October 2011
You can be the Managing Director the company by taking the PRIOR AND SPECFIC permission from the council of the institute. As per per Regulation 190A of the CA regulations. This is only to Escape from the Professional Misconduct under clause 11 to Part 1 of Shcedule 1 of the chartered accountants act,1949
If u accepts the position of an M.D You will lose the power of attest function as per AMENDMENT to Regulation 190A.(since, the appointment of M.D has not been covered under the list prescribed in the Amendment)
However,Even if u loose the power to attest, you can have the limited power to provide the Articled training.
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