Whole Time Director in Two Public Limited Companies
This query is : Resolved
15 September 2009
Can a person be Whole Time Director in Two Public Limited Companies.
15 September 2009
The companies act,1956 does not define a 'whole time director. However, explantion to section 269 states that the expression 'whole time director' includes a director in the whole time employment of the company. By virtue of the whole time employment, a whole time director cannot act as such in more than one company.
15 September 2009
No
16 September 2009
completely No
16 September 2009
Agree to a certain extent.
But my answer is a bit different. If both the companies are group companies having regd./corporate office in one premises then there is no issue at all.
As law is silent regarding WTD and explanation of 269 is not mandatory in nature (just an explanation) a person may be a WTD in 2 companies.
Regards
But my answer is a bit different. If both the companies are group companies having regd./corporate office in one premises then there is no issue at all.
As law is silent regarding WTD and explanation of 269 is not mandatory in nature (just an explanation) a person may be a WTD in 2 companies.
Regards
16 September 2009
As far as ROC or E-filing of 32 is concerned no prob at all. In the ROC system a persom can be reflected as WTD of 2 companies.
Regards
Regards
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