Can a Person who isDirector in 15 Companies hold the post of Chairman in other companies?
Menu
Managing director
Replies (7)
I think yes. I am not very sure. But will other company appoint only as Chairman? There are few provisions in listing agreement.
Dear Sunny,
yes, I am also concerned that how any one can be appointed only as Chairman. as far as my knowlwdge is Concern the Chairman must be part of Board of Directors i.e Director, MD,WTD.
Correct me if i am wrong.
reards ,
Dipak Singh
Hi Dipak,
I do agree.. Usually one among the Board is elected as a chairman. haven't heard of a chairman being non-director. As the saying goes, 'Name does not matter, but functions do matter'' the chairman as pointed out above will be liable for his acts.
He can not be so appointed.
He has to leave one of the directorship. Because the chairman is elected among the Board of Dirctors. That means he should be the Board Member and as such he is already director in 15 companies he has to leave one of the company.
| Originally posted by : CS Ankur Srivastava | ||
 |
He can not be so appointed. He has to leave one of the directorship. Because the chairman is elected among the Board of Dirctors. That means he should be the Board Member and as such he is already director in 15 companies he has to leave one of the company. |
 |
I agree with CS Ankur srivastava's answer.
Please do remember, the stipulation set by section 278 for the purpose of calculating the number of directorships i.e. 15. Private cos which are not subidiary of a public ltd. cos and the cos in which he is an alternative director etc.
Recent Topic
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
Related Topics
CAclubindia
