DEAR ALL,
1. Can an NBFC have a foreign Managing Director.
2. Can a Foreigner become a board member of an NBFC.
3. Can an NBFC have Multiple Managing Directors.
THANX IN ADVANCE...
DEAR ALL,
Hi
As far as company law concern MD can be foreigner and also board member.
A company can have two md as well.
Upto my understanding;
Here the provisions of the Companies Act, 1956 will apply because NBFC's are governed by the said act as well as the RBI Act, 1934. Chapter IIIB of RBI Act, 1934 deals with the provisions of NBFC and that is silent on this matter. In nutshell, yes there can be two MD in a NBFC, a Foreigner can be Director as well as MD.
Regards,
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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