Hello,
A seemingly easy question...
XYZ Ltd is having 30% Voting Rights IN ZYX Ltd.
Can it be appointed on the Board of Directors?
4 Replies
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 12 May 2010
You are right it is indeed a simple question.
As per section 253 of the companies act, 1956 No body corporate, association or firm shall be appointed director of a company, and only an individual shall be so appointed.
So to conclude XYZ can not be appointed as a director of a another company.
Thanks
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 13 May 2010
For more learning:
The reason why only an individual should be a director is pointed out by Supreme Court in Oriental Metal pressing Works private limited Vs. Bhasker Kashinath Thakoor.
According to Supreme Court the office of a director is to some extent an office of trust and there should be somebody available on whom responsibility could be fixed. Fixing such responsibility might be difficult if the director is a corporation or an association or firm.
gayatri
(JOB)
(39 Points)
Replied 30 November 2012
please provide the step by step procedure for filing of petition for the revival of the compnay u/s 560(6) of the companies act,1956 and list of required documents for the same
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