Kindly have a look on it

Others 678 views 5 replies

Yogesh Shah

Managing Corporate Finance

1051 Points Joined March 2009

Hi Guys,

Recently (on this site only) I was engaged in a discussion whether ‘Minor can be appointed as a director or not’. I was of the opinion that he can be. But after looking other expert’s opinion and after verifying it I found that in fact he cannot be.

Now I have a question that – it is mentioned in ICAI module & Jayaraman sir’s notes that minor can be a director of Pvt. Co. – then why they both mentioned this even after knowing that this not possible now. At least they could mention note along with it.

In exam, if question comes, what we (students) have to write – minor can be director in co. (since it is mentioned in module)

Or he cannot be a director (since it is most right answer and practical too)

Replies (5)

HARDIK

COMPANY SECRETARY NCFM (Corporate Gover

664 Points Joined October 2008

Hi kindly see the attached file. see point no 5 age of appointee should not be less than 18.

Yogesh Shah

Managing Corporate Finance

1051 Points Joined March 2009

Hi Hardik,

Thnx for sharing. But my question is little different.

In ICAI module & Jayaraman notes - minor CAN be director in private co

But practically (as in attached file) - minor CANNOT be a director in any company

Then what we (students) have to write in exam? ICAI module answer or practical answer?

HARDIK

COMPANY SECRETARY NCFM (Corporate Gover

664 Points Joined October 2008

Practical answer buddy. In practical life everything is different.

Yogesh Shah

Managing Corporate Finance

1051 Points Joined March 2009

Thnx dude ...

One last time ... just see whether my answer is right (which I will write if question comes in exam) -

"Though sec. 264 is NA to private co. and by strict interpretation though it seems that minor could be appointed as director of private co. but after DIN applicability minor cannot be appointed as director in any company. As DIN is mandatory for becoming director and DIN cannot be allotted to minor, it is clear that MINOR CANNOT BE APPOINTED AS DIRECTOR".