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Doubts in new business

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ANANDHI R

student mba

21 Points Posted on 14 May 2024

Planning to start a new business..
my husband Is already a director in a sales and service-based company. Now I am a homemaker.
will it be an issue for my husband's job if I become the director of a new business?
another doubt is my daughter is 19 years old and is studying in college. Is she eligible to become a director of a business?

Replies (4)

Quick Summary

This discussion addresses concerns about starting a new business. The primary questions revolve around whether a spouse's existing directorship in a sales company will be affected by a new directorship, and if a 19-year-old college student is eligible to become a director. The advice suggests that a new directorship is unlikely to conflict unless it's in a directly related business, and clarifies the eligibility criteria for directorships.

sabyasachi mukherjee

Profession

19978 Points Posted on 14 May 2024

There are lot of condtions to become a director

Shubham Patel

student

78 Points Posted on 14 May 2024

Consult proper professional

RAJA P M

"Do the Right Thing...!!!"

77833 Points Posted on 15 May 2024

Yes, I agreed with Mr Shubam Patel,

will it be an issue for my husband's job if I become the director of a new business?

- No, if it's not in the same business and related business.

another doubt is my daughter is 19 years old and is studying in college. Is she eligible to become a director of a business?

- No...

Aashok Kumar Sharma

Finance/Compliance Consultant

75646 Points Posted on 08 November 2026

Starting a new business when the husband is a director elsewhere:
• You can start your own business (proprietorship, partnership with your husband, or a company). Being a director in another company doesn't restrict your husband from being a partner or director in a new entity, subject to conflict-of-interest rules (Sec 184 disclosures, and the company's policies if there's competition).
• If the new business deals with your husband's company, those are related party transactions (Sec 188 approvals in his company).
• Choose the structure based on liability, funding and tax (LLP or company for limited liability).