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section 343

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(Querist)
24 February 2010 Sir

pl tell me can three employees of A company be appointed as Director in Company B where the chairman of A company holds 90% shareholding in B Company

Raghupathy
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CS REMESH B

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CS REMESH B (Expert)
15 March 2010 Sec. 343 of the Companies Act, 1956 has been omitted by the Companies (Amendment) Act, 2000 w.e.f.13.12.2000. So 3 employees of A Co. can be appointed as directors in Co. B where Chairman of A co.'s hold 90% shareholding.

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