Can a Practising CA become a director in a Pvt Ltd Company(Major stake in company is hold by the relatives). If permission is required from ICAI which form is to be filed.
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Directorship in a company by a practising ca
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Hi
The Committee on Ethical Standards (CES) a non-standing Committee of the Institute, has examined the issue in detail. The Committee noted that in terms of Clause (11) of Part I of the First Schedule to the Chartered Accountants Act, 1949 a Chartered Accountant in practice can not engage (unless permitted by the Council so to engage) in any business or occupation other that the profession of Chartered Accountant but he can be a director of a Company (not being a managing director or whole time director) wherein he or any of his partners is not interested in such Company as an auditor.
Regards
Ajay Mishra
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