24 October 2011
Qualifications shares are that number of shares which directors of the company must hold (if the articles of the company so provide) to become the directors of the said company.
24 October 2011
There is no statutory requirement that a director must hold qualification shares,if there is no specification in Articles.Every director must obtain qualification share within 2 months of APPOINTMENT and its nominal value shall not exceed Rs.5000.Provisions of this section are not applicable to private limited company
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