Resident-independent director

Co Act 2013 394 views 1 replies

Niraj

prop

105 Points Joined May 2014

Hello

Kindly share your views:

As per section 149(3) Every Company shall have one resident Director who stay in India for 182 days.

In one of our foreign holding Company all Directors are Non-Resident, and they want to appoint an Indian as Independent Director who will stay in India for 182 days or more. Will this arrangement will be a compliance for section 149(3).

Thanks

Replies (1)

Vandana J Doshi

Practising Company Secretary

12562 Points Joined May 2011

Yes....there does not appear any problem in it......CA 2013 never mentioned that such a person cannot be an independent director....so in my view you can go with it....