Foreign citizen share holding right

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SHIRAS (Querist)
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21 June 2015 Dear Sir
Our company is a software co. the Managing Director of the company is an Indian national.now he has been immigrant in United States and currently he has been citizen of United States of America.

So what is the maximum number of shares he can hold to the company. Is it 49% of shares or he can more than 49% share?
please help me any one

Thanks in Advance

Ankur Garg

Ankur Garg (Expert)
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25 June 2015 Can you share the law provision where there is restriction on your MD to hold specific percentage of shares.

As per my knowledge there is no restriction and he can continue to hold his previous shares.

Thanks

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SHIRAS

SHIRAS (Querist)
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25 June 2015 Thank you for reply,
I think he can hold only maximum 49% share. Because now he is an US citizen.
Is it correct?

Thanks