Incorporation of a private limited company.
Querist : Anonymous
My Query is "whether a member in industry can be the managing director of a private limited company"
Please suggest me as early as possible.
As clause 11 of part 1 of schedule 1 of CA Act 1949 deals with CAIP, which says that there is a general permission from council of ICAI to be director or manager of company (other than WTD or MD) unless he has interest in that.
Said clause is not applicable to Members in industry.
Kindly let me know whether this solution has solved your query.
Regards,
CS Sumat Singhal
Querist : Anonymous
Thanks and Regards
CA. Mukesh Jha.
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