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Resident director

This query is : Resolved 
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(Querist)
05 June 2015 Dear Friends / Experts,

Please guide me on the following, IF POSSIBLE:

A Private Limited Company having two Foreign Directors. Both are shareholders too. Their stay in India is less than the stipulated period.

Query

Is there any penalty for the company, if it's not appointing a Resident Director?

Your reply, please..............


Thanks in advance for possible replies from all concerned.
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Swati Sethi

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Swati Sethi (Expert)
06 June 2015 In every company there should be one minimum resident director.
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