01 March 2014
A person shall not act as a director in more than 15 companies(sec.275) as per sec.278 while caluculating 15 directorships, directorships in the following companies are to be excluded:
a)A private company which is not a subsidiary or holding company of public company
b)An unlimited company
c)An association not carrying on business for profit or which prohibhits payment of dividend
d)A company in which he is appointed only as alternate director . . Refer Section 275--279 INDIAN COMPANIES ACT 1956
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