appointment of director
This query is : Resolved
28 August 2010
Can HUF become the director of the company under Companies Act.
If Yes, then the shares should be held in the name of the HUF or the Karta ?
If Yes, then the shares should be held in the name of the HUF or the Karta ?
28 August 2010
No HUF cannot be director.
Shares can be held by the HUF but it would always be through its karta.
Shares can be held by the HUF but it would always be through its karta.
Message likes :
1 times
28 August 2010
NOT UNDERSTAND PROPERLY.....
EXPLAIN IN DETAIL............
EXPLAIN IN DETAIL............
28 August 2010
A HUF cannot be appointed as director of the company. Only individuals can be directors.
HUF can hold shares in its own name but it would alsways be XYZ HUF (Thorugh its Karta XYZ).
HUF can hold shares in its own name but it would alsways be XYZ HUF (Thorugh its Karta XYZ).
Message likes :
1 times
28 August 2010
Section 253 of the Companies Act,1956 says only individual's can be appointed as directors of a company. This legislative restriction has also been reiterated by the Supreme court in the case of Oriental Metal Pressing Works (P) Ltd V Bhaskar Kashinath Thakoor (1961) 31 Com Cases 143. As such an HUF cannot be appointed as director in a company.
Message likes :
1 times
29 August 2010
thanks a lot
now clear
now clear
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Confusion around Form 26QB fields
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
Trending Online Classes
CAclubindia
