I want to become a director of indian public company

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Shamsul arfeen (Querist)

11 August 2013 plz suggest me what to do to becomme a director of any public company in india.
is there any requirement of sending notice to co.14 days before AGM of co.etc etc plz explain it??????
thanks
regard
arfeen

Ajay Mishra

Ajay Mishra (Expert)

11 August 2013 Hi

If a person intended to become a director of a public company, you must comply the provision of section 257 of the Companies Act, 1956, which give power a person/shareholder to be appoint as director.

Section 257 allows a person who is not a retiring director to be eligible for appointment to the office of director at any general meeting, if he or some member, intending to propose him has, not less than 14 days before the meeting, left at the office of the company a notice in writing under his hand signifying his candidature for the office of director or the intention of such member to propose him as a candidate for that office, along with a deposit of Rs. 500 which shall be refunded to such person or, as the case may be, to such member, if the person succeeds in getting elected as a director.

Since section 257 does not say that tender of nomination should be before a particular time on last day, rejection of nomination on ground that deposit was tendered one minute later than 3.30 p.m. i.e., office hours, for cash transactions, would be erroneous inasmuch as it contravened provisions of section 257. [Oriental Benefit and Deposit Society Ltd. v Bharat Kumar K. Shah (2001) 30 SCL 246 (Mad)].

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