A private limited company has 3 director all has citizenship of outside india and they are also only shareholder of company.
CAN they sign annual statement outside india and what are the provision of AGM in this case
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Foreign director
Replies (7)
As per Section 149 of Co. Act. 2013, a company should have at least one director who stay in india at least 182 in any financial year. In your case, if any director stay in india for a period more than 182 days then director is qualify for directorship.
If no one was stay in india?
then ita voilation of section 149
As per the notification of MCA, MCA has given tme period of 1 year to comply with the requirement. And the company will need to have one Resident Director in India.
With regard to signing of financial statements, the accounts need to be approved and signed in properly held board meeting (not via video conference.) no matter where it is being held i.e. India or outside india. But the AGM need to be held only and only in India at most importantly at the place where the registered office of the company situate
Check Attached file
thanks to all.......thanks alot
Very Good PPT Arpit
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