Regarding directors

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2013 Dear Sir,

Individual can be director in how many companies at one time ?

for pvt ltd ?
or Public Ltd ?

Regards,
Jagjeett Siingh

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 July 2013 Max 15 Companies (Excluding Pvt Ltd Co.). No limitation for directorship in Pvt Ltd companies.

Section 275 - No person to be a director of more than fifteen companies:

After the commencement of this Act, no person shall, save as otherwise provided in section 276, hold office at the same time as director in more than fifteen companies. [Earlier this limit was twenty companies - Substituted for "twenty companies" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000]

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 July 2013 Section 278 - Exclusion of certain directorships for the purposes of sections 275, 276 and 277:

(1) In calculating, for the purposes of sections 275, 276 and 277, the number of companies of which a person may be a director, the following companies shall be excluded, namely:—

(a) a private company which is neither a subsidiary nor a holding company of a public company;

(b) an unlimited company;

(c) an association not carrying on business for profit or which prohibits the payment of a dividend;

(d) a company in which such person is only an alternate director, that is to say, a director who is only qualified to act as such during the absence or incapacity of some other director.

(2) In making the calculation aforesaid, any company referred to in clauses (a), (b) and (c) of sub-section (1) shall be excluded for a period of three months from the date on which the company ceases to fall within the purview of those clauses.