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Mp, mla or member of municipal corporation may be a director

This query is : Resolved 
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(Querist)
17 July 2013 DEAR SIR,
I WANT TO KNOW THAT AN M.P., MLA OR ELECTED MEMBER OF MUNICIPAL CORPORATION MAY BE A DIRECTOR IN A PVT. OR PUBLIC COMPANY.

PLS. GUIDE ME.

THANKING YOU
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
25 August 2013 No as they cannot hold any other profit making organisations as and when they are the elected members of the Government body similarly to that of an government employee cannot take any post in any other organisation except govt. organisation.

If the Government appoints them as a chairman or any other post of director in Govt. owned companies then only yes otherwise not.

They have to declare whether they are holding any other post in any other organisation.

Yes they they can become share hold in any company and they have to declare their assets in that company.
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