A Foreign National i.e. Sri Lankan, who is a student studing in XXX University in Chennai. He is not a student of ICAI or ICSI.
The said student is holding STUDENT VISA for his education in India.
Query :
As the student is holding the STUDENT VISA, whether he can promote a company in India and become a director in private company. (He is not in employment and not doing any business).
If so, I may be provided the relevant details to get myself satisfied and convinced.
I look forward to receive the response from the experts.
04 August 2009
The Companies Act,1956 does not prohibit a student to become a subscriber to the MOA and AOA of a company. A person 'sui juris' can become a subscriber to the said documents. Like wise, the said person can be a director of a company but he can not be an Executive Director since he is engaged in studies also.
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