25 February 2011
No a person must attain the age of majority.
As per Schedule XIII of the Companies Act, one should complete age of 25 years but if one has attained the age of majority and approve his appointment by passing special resolution in general meeting, he can be appointed.
25 February 2011
Since your brother has not completed the age of 25 years, he cannot be appointed as Managing Director or Whole Time Director of the Company.
As per Schedule XIII, Part I, a person who has not completed the age of 25 years but has attanined the age of majority i.e. completed 18 years can be appointed as MD subject to passing a special resolution in general meeting of the company.
In your case, since your brother has not attained the age of majority, he cannot be appointed as Managing Director even by passing Special Resolution in General Meeting.
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