Can a CA become shareholder of a company?

CA Rashi Agrawal (Chartered Accountant) (102 Points)

24 November 2011  

Can a CA who is a Already a "Professional  Director" in a company become shareholder of the same company?? Wether this will attract any contravention of Any provision of CA Act?? and if yes then is it possible to Convert him as a "Promoter Director" from Professional Director" to continue as a shareholder??