Age of an ordinary director

This query is : Resolved

Parth Maken (Querist)
Follow

23 July 2010 1.) Can a student having a permanent income tax account no. be a part time director in a private limited company?
2.) In addition to salary and director sitting fees what other benifits can he draw from the company?

I think that Companies Act has not specified any qualofication for appointment as a director in a company. However it specifies that a whole time director or a manging director should be in the age bracket of 25 to 70 years. Thus any individual may become an ordinary director whatever his age or qualification.

Kindly Comment

Jagruti (CS)

Jagruti (CS) (Expert)
Follow

24 July 2010 Any person in order to become director need to get DIN. And for getting DIN person age should be of 18 yrs or above.

Hence only major can become a director.

In addition to sitting fees, director can get commission as well which need to be approved by Special resolution in general meeting

Jagruti (CS)

Jagruti (CS) (Expert)
Follow

24 July 2010 Also commission can be fixed or as a percentage of Profit director can get

Upgrade to CAclubindia Pro. Subscribe Now!