Appointment of directors

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 October 2014 I have to incorporate a company but both directors are NRI so whether it is ok or I need to have one resident director please answer

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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08 October 2014 Regarding newly incorporated companies it is clarified that companies incorporated between 1.4.2014 to 3O.9.2O14 should have a resident director either at the incorporation stage itself or within six months of their incorporation. Companies incorporated aJter 30.9.2014 need to have the resident director from the date of incorporation itself.-MCA General Circular No. 25/2014.

Section 149(3) of the Companies Act, 2013 requires every company to have at least one director who has stayed in India for a total period of not less than 182 days in the previous calendar year.