Can CA be a director in a co??
This query is : Resolved
08 January 2008
THE DIRECTOR IF HE IS NOT DISQUALIFIED UNDER SECTION 274(1)(g) OF COMPANY'S ACT AND OTHER APPLICABLE REGULATIONS LIKE UNDISCHARGED INSOLVENT,CRIMINAL RECORD HOLDER,MINOR,MENTALLY INCOMPETENT ETC..., THERE IS NO BAR FOR ANY PERSON INCLUDING C.A TO BE A DIRECTOR.
UNDER ICAI REGULATIONS,THE POSITION IS AS GIVEN BELOW.
Clause (11) - Practising member prohibited from engaging in any business or occupation other than the profession of chartered accountants unless permitted by the Council so to engage, except being a director of a company, unless he or any of his partners is interested in such company as an auditor ---
Regulations
190A Chartered Accountant in practice not to engage in any other business or occupation
Appendix (9) - Chartered Accountants Regulations, 1988 (2002 edu.)
(A)Permission granted generally ---
(B) Permission to be granted specifically - Director of a Company
- Promoter/Promoter-Director ---
SO C.A CAN BECOME DIRECTOR WITH CONSENT OF ICAI.
R.V.RAO
UNDER ICAI REGULATIONS,THE POSITION IS AS GIVEN BELOW.
Clause (11) - Practising member prohibited from engaging in any business or occupation other than the profession of chartered accountants unless permitted by the Council so to engage, except being a director of a company, unless he or any of his partners is interested in such company as an auditor ---
Regulations
190A Chartered Accountant in practice not to engage in any other business or occupation
Appendix (9) - Chartered Accountants Regulations, 1988 (2002 edu.)
(A)Permission granted generally ---
(B) Permission to be granted specifically - Director of a Company
- Promoter/Promoter-Director ---
SO C.A CAN BECOME DIRECTOR WITH CONSENT OF ICAI.
R.V.RAO
08 January 2008
does it mean that a CA can be non-executive director of a co without permission of ICAI.. but if he wants to be excutive director then permission of ICAI is reqd????
27 January 2008
Yes, he can be Non-ED. For being ED he has to surrende COP as it involves substantial interest in the business. Deepak Parekh of HDFC is the Chairman at present. When he was ED he did not hold COP.
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
Trending Online Classes
CAclubindia
