29 December 2010
A Full time employee can become director in the same company. He can also be appointed as a non-executive director in another private limited company.
30 December 2010
Yes he can be appointed as non-executive director of a private limited company, however subject to the terms of appointment of XYZ Co. Generally the appointment letter of wholetime employee contains restrictions as to accepting another employment.
30 December 2010
1.As explained above employee of XYZ Pvt.Ltd. can not become ED of ABC Pvt.Ltd.but is it compulsory that out of 2 directors of ABC Pvt.ltd at least 1 director must be ED?
2.Can practicing CA can become Executive director of Pvt.Ltd.If yes then whether he should take prior permission from ICAI.Please elaborate.
CAclubindia
