LAW QUERIES.......not so urgent

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Anil Kumar

looking for the best avenue

303 Points Posted on 03 August 2010

Query 1: Can a minor be appointed as a director in public company / pure private company ?

Query 2 : Can a manager and MD co-exist simultaneously in a pure private company ?

Query 3 : Can a company issue unsecured debentures ? if yes, how ?

Query 4 : Do executive director comes into the ambit of "managerial person" for determining managerial remuneration ?

Answers with relevant provisions and case laws will be appreciated.

thanks in advance.

Replies (2)

Ankur Garg

Company Secretary and Compliance Officer

114788 Points Posted on 04 August 2010

1. No…lack of contractual ability prevents a minor to become a director. Being a responsible designation a director must have power to enter into contrant. Further ROC will not accept DIN form for minor and appointment of director without DIN is impossible.

2. No…refer section 197A

3. yes…but not very sure…however adoption of section 117 to 119 is necessary.

4. Not necessarily…however managerial personnel term includes MD, WTD and the Manager read with section 269..

Wait for other expert opinions…

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