Restrictions on appointing ca as additional director

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Querist : Anonymous

Querist : Anonymous (Querist)

23 December 2011 can chartered accountant in practice appointed as additional directors?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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23 December 2011 Yes he can be appointed as additional director but cannot be a Managing director or auditor of that company.

Querist : Anonymous

Querist : Anonymous (Querist)

23 December 2011 thanks, tell me the section in CA act

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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23 December 2011
[THE FIRST SCHEDULE]

PART I
Professional misconduct in relation to chartered accountants in practice

A chartered accountant in practice shall be deemed to be guilty of professional misconduct, if he —

(11) engages in any business or occupation other than the profession of chartered accountant unless permitted by the Council so to engage:

Provided that nothing contained herein shall disentitle a chartered accountant from being a director of a company (not being a managing director or a whole time director) unless he or any of his partners is interested in such company as an auditor;

Querist : Anonymous

Querist : Anonymous (Querist)

23 December 2011 thankyou sir