27 February 2010
A person is holding shares of Rs 10000 nominal value, is he eligible to be appointed as a director.. the act says the qualification shares shouldn't exceed nominal value of Rs5000 and in the same way the act says previously held shares before appointed as director should be taken as qualification shares . my question is can - can he be appointed as director??
01 March 2010
Yes. Please check your Articles of Association as to whether they require having qualification shares by directors or have dispensed with this requirement.
CAclubindia
