26 June 2008
Whether directorship in the subsidary company (including foreign subsidary) will be considered for calculating the cealing Limit u/s 278 or not.
26 June 2008
As per the relevant section, it says while calculating the number of companies for directorship, the following companies should be excluded- 1) A private company which is not a subsidiary of public company. 2) An unlimited company 3) Sec 25 Company 4) A company in which he is only a alternate director.
It is clear that directorship in subsidiary company should be considered for maximum number and as well foreign company membership also.
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