Professional director or promoter director in form 32

This query is : Resolved

Guest

Guest (Querist)

18 July 2012 Dear Friends / Experts,

ABC Private Limited had appointed A as Additional Director-Professional-NED.

Now, the company has file Form 32 for change in designation.

It may be noted that A is also holding 50% of the paid up capital of the company.

Query

In the Form 32 to be filed for change in designation, should we mention the category as PROFESSIONAL or PROMOTER (who is also holding 50% of the paid up capital of the company).

Ans : ................ (please advise the appropriate category for the said director).

Thanks.

Charu Srivastava

Charu Srivastava (Expert)
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18 July 2012 Professional Director.
The Promoter are the ones who take prelimary steps to incorporate the Company.

Ajay Mishra

Ajay Mishra (Expert)
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19 July 2012 Hi

You can use the words /Director/Promoters/NED in Form-32 filing.

In case of Individual holding more than 10% can use the words as promoter.

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CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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21 July 2012 In case of Private Company you can not use Independent.

So you have to choose between professional or promoter. If you can relate the person in promoter caterogy then choose promoter otherwise choose professional.

There is no option, in case the person is neither promoter nor professional even then you have to choose between two.