Qualification of shares held by director
This query is : Resolved
ritika s. ojha
(Querist)
01 June 2012
what happen when director not held qualification shares within prescribe time, in case of public co. - when in such co provision related to qualification share is made in AOA or no provision in AOA is made related to it??
01 June 2012
If the director fails to hold qualification shares with in the period mentioned in the AOA, then the office of the director shall become 'vacant'. For details please refer section 283 of the Companies Act,1956.
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