Mr x an Indian Citizen is into consulting agreement with a XYZ Pvt Ltd company and he is also a green card holder in USA. Now he wants to become a director in XYZ Pvt Ltd Company w.e.f Dec 31, 2013.To become a director resident in India-:
1) Is he required approval under sec 314 (Special resolution and CG permission) as he hold the place of profit
2) As per company act 1956, he should be in India for a contious period of 12 months before his appointment as a director (during this period he has visited USA several times i.e approx 60days on regular interval)
Please advise
CAclubindia
