Min. Age for becoming a director, Independent Dr, MD in Cos.

This query is : Resolved

Guest

Guest (Querist)

30 June 2009 Query 1. What is the minimum age for becoming a director in private company? (Ans : 18 Completion)
Query 2. What is the minimum age for becoming a director in public company? (Ans : 18 Completion)
Query 3. What is the age prescribed for Independent Director? (Ans : 21 Completion)
Query 4. What is the age prescribed for Managing Director? (Ans : 25 Completion)
Kindly correct, if the information mentioned is wrong.

Ankur Garg

Ankur Garg (Expert)
Follow

30 June 2009 Hello Sir,

I would like to comment on query No. 3 & 4

Query 3: As there is no difference between a director and independent director as far as age is concerned. It should also be 18 years.

Query 4: For the appointment of Managing Director you have to follow Section 269. As per Section 269 you may appoint Managing Director either with CG approval or by following schedule XIII.

If you follow schedule XIII then the minimum age is 25 years. But observe carefully there is a proviso in schedule XIII in this regards that even if he has not attained the age of 25 years still you may appoint him as MD with approval of shareholder by way of special resolution.

If you appoint him as MD by taking CG’s approval u/s 269 then funda of 25 years age as contemplated by schedule XIII shall not apply and age of 18 years will do.

Best Regards