Minor appoint as a director in Pvt. Ltd. Company
This query is : Resolved
07 February 2011
Can a MINOR appoint as a director in a Pvt. Ltd. Company?
If yes than wht process will follow?
If yes than wht process will follow?
07 February 2011
Minor can not be appointed as a director.
07 February 2011
No. A minor cannot be appointed as a director of a company.
The Companies Act, 1956 generally not define the minimum age limit for becoming a director of the company. A minor is not competent to contract. Under section 184 of the Indian Contract Act, 1872, a person who is not the age of majority can not become an agent. In consequence a minor cannot be appointed to an office of director of a company.
For appointment of a Managerial person he should be one who has completed the age of 25 years and has not attained the age of 70 years.
As per Part I of Schedule XIII is as under, for appointment of MD or WTD , minimum age is fixed as the age of 25 years and has not attained the age of 70 years.
Exception: A special resolution is required for the appointment of a managerial person if he
(i) Has attained the age of 70 years; or
(ii) Has not completed the age of 25 years, but has attained the age of majority (i.e. 18 years).
Form 32 - there is an instruction that appointee as a director should be of more than 18 age.
In view of the above , a minor cannot be appointed as a director of a company.
R.V.Seckar
Pl do visit my blogs :http://rvseckarcompanylaw.blogspot.com/
http://rvseckarfema.blogspot.com/
http://rvseckarindianlaws.blogspot.com
The Companies Act, 1956 generally not define the minimum age limit for becoming a director of the company. A minor is not competent to contract. Under section 184 of the Indian Contract Act, 1872, a person who is not the age of majority can not become an agent. In consequence a minor cannot be appointed to an office of director of a company.
For appointment of a Managerial person he should be one who has completed the age of 25 years and has not attained the age of 70 years.
As per Part I of Schedule XIII is as under, for appointment of MD or WTD , minimum age is fixed as the age of 25 years and has not attained the age of 70 years.
Exception: A special resolution is required for the appointment of a managerial person if he
(i) Has attained the age of 70 years; or
(ii) Has not completed the age of 25 years, but has attained the age of majority (i.e. 18 years).
Form 32 - there is an instruction that appointee as a director should be of more than 18 age.
In view of the above , a minor cannot be appointed as a director of a company.
R.V.Seckar
Pl do visit my blogs :http://rvseckarcompanylaw.blogspot.com/
http://rvseckarfema.blogspot.com/
http://rvseckarindianlaws.blogspot.com
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