Restrictions on appointing ca as additional director

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Querist : Anonymous

Querist : Anonymous (Querist)

23 December 2011 can chartered accountant in practice appointed as additional directors?

Aditya Maheshwari

Aditya Maheshwari (Expert)

23 December 2011 Yes he can be appointed as additional director but cannot be a Managing director or auditor of that company.

Querist : Anonymous

Querist : Anonymous (Querist)

23 December 2011 thanks, tell me the section in CA act

Aditya Maheshwari

Aditya Maheshwari (Expert)

23 December 2011
[THE FIRST SCHEDULE]

PART I
Professional misconduct in relation to chartered accountants in practice

A chartered accountant in practice shall be deemed to be guilty of professional misconduct, if he —

(11) engages in any business or occupation other than the profession of chartered accountant unless permitted by the Council so to engage:

Provided that nothing contained herein shall disentitle a chartered accountant from being a director of a company (not being a managing director or a whole time director) unless he or any of his partners is interested in such company as an auditor;

Querist : Anonymous

Querist : Anonymous (Querist)

23 December 2011 thankyou sir

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