MLA - prmoter /director

Neeta (Finance) (345 Points)

20 April 2010  

Hello members !

Query :  Is there any restriction in the Companies Act on the MLAs to be the promoter or director or both of a Public/Private or govt company.

As far i know there isn't any such restriction, infact there are instances where political persons are the directors ( but don't know whether they can be promoter also however i didn't find any restriction ).  but still i want to confirm with the learned members.

There again raises a question on the incorporation of a govt company : who would be the promoters apart from the state government ?

if possible plz give some cases.

Plz reply asap.

thanks and regards