Qualification Shares
This query is : Resolved
04 March 2011
hello friends,
Can any one tell me what will happen if a director has applied for qualification shares within stipulated time limit but shares are not alloted to him by co. within that stipulated time limit???????
Can any one tell me what will happen if a director has applied for qualification shares within stipulated time limit but shares are not alloted to him by co. within that stipulated time limit???????
04 March 2011
In my opinion, as per the provisons of section 283 of the Companies Act, 1956, the office of the Director shall become vacant if he fails to obtain the qualification shares within 2 months from the date of appointment.
04 March 2011
Hai udit u are right but here is the default on the part of Co. not Director than sec 283 shall apply or not??????
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