When a Non-Executive Director of a Unlisted Public Limited Company wants to join the Board of a Private Limited Company wherein none of the other Directors of that Unlisted Public Limited Company, is currently holding any position neither director nor shareholder or employee.
Dear Vikash,
As far as i think, in this case, NEDs of the Company need not give any disclosures as this is about a Private Company. {Sec 305(1) read with Sec 303(1)a}.
Regards,
Aditya
In my opinion Disclosure is required to be made by Director to both the Companies at Board Meeting under Section 299 of Companies Act, in Form 24AA.
Agree with Ms. Smriti only disclosure of interest under form 24AA will be sufficient.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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