Can an NRI be a MD?

This query is : Resolved

CS VENKATARAMANAN S (Querist)
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15 November 2010 Sir,
I applied for DIN for a Singapore Citizen who has Indian Origin Card and multi entry visa and got it. He wishes to form a Private company here. Can he be a Managing director of a Private Company? Is there any provision to get permission from any other authorities like RBI?

Ajay Mishra

Ajay Mishra (Expert)
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15 November 2010 Hi

For the appointment of MD in private company is governed by their own articles. The provisions of Companies Act, will not apply.

Regards

Ankur Garg

Ankur Garg (Expert)
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15 November 2010 Hi,

According to me permission from RBI is not required for the appt of NRI as MD of a Pvt. Company.

Simply by passing a board resolution you may appt him as MD of ur pvt. company. Also file form 32 with 30 days of passing BR.

Wait for other suitable opinions.

Thanks

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