Non-Resident Directors

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2010 Dear Friends,

I am Working in a Company whose all the Directors are nonresident (foriegners), and whole capital has been funded from outside India. so could you tell me that is it ok with the CLB and MCA as all the directors are foriegners and they are holding 100% ownership in Indian Company but they all are residing in india since more than 10years and doing the business here.

And they have the employement Visa to work here nothing else so can you tell me that is it ok as per the CLB and MCA. if not then let me know the repurcussions of the same.

Thanks & Regard

Raj

ACS Abhishek

ACS Abhishek (Expert)
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05 May 2010 You must have 1 indian subscriber to MOA in case of foreign Co. you can allot him 1 share also but he must be subscriber to MOA.

Regards
Abhishek Sharma

Querist : Anonymous

Querist : Anonymous (Querist)

05 May 2010 Dear Abhishek ji

If there is no one then what would be the repurcussion.

Regards

Rajesh

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