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Executive Director / Independent director

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Ajita prasanna

21 Points Posted on 23 July 2023

Hi I am a Designated Director in a Pvt Ltd company (Not Listed and Less than 10cr Paid up capital).

Can I register my self in IICA and clear exams and join another board as Independent Director. ?

Replies (3)

Quick Summary

This discussion clarifies whether a Designated Director in a private limited company (under 10cr paid-up capital) can register with IICA and subsequently serve on another board as an Independent Director. The answer is yes, provided all qualifications and compliance requirements under Section 149 and its rules are met.

sabyasachi mukherjee

Profession

19978 Points Posted on 23 July 2023

It's a long time.

Chirag

Professional

1149 Points Posted on 30 July 2023

Yes , Definitely But Subject to qualification Compliance of Section 149 and rules made thereunder..

Aashok Kumar Sharma

Finance/Compliance Consultant

75663 Points Posted on 08 November 2026

Independent directors in private companies:

• Private companies (other than those meeting Rule 4 criteria for public companies) aren't required to appoint independent directors (Sec 149(4) applies to listed and certain public companies).

• A director can't be both executive (whole-time or designated in management) and "independent" for the same company. An independent director must not be a KMP or have pecuniary relationships (Sec 149(6)).

• A "designated director" (e.g. under GST or another law) is just a director with designated responsibilities.

• You can designate yourself as executive director (whole-time director) by a board and members' resolution (Sec 196), and file DIR-12.