Jitender
(Chartered Accountant)
(8724 Points)
Replied 19 November 2008
if MD -no
if as signatory- yes.
refer clause 11 part-1 of schedule -I of ca act.
Trupti
(CA)
(51 Points)
Replied 22 December 2008
Yes he can become director of any co but not an MD.
Deepak Jain
(CA)
(69 Points)
Replied 22 January 2009
As per Clause 11 Part 1 of Schedule 1 of CA Act A chartered accountant in practice shall be deemed to be guilty ofprofessional misconduct, if he 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 charteredaccountant from being a director of a company (not being a managing director or a wholetime director) unless he or any of his partnersis interested in such company as an auditor; In view of above it is clear that a CA can become director other than MD or whole time director. However the CA who is director in the company or his partner can not become auditor of that company
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 22 January 2009
Beautifully answered Deepak .
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