hi everyone
sec 253 says that no body corporate , association or firm shall be appointed director of a company , and only an individual shall be so appointed
why only an individual is eligible and nobody else
regards
pawan
pawan (student) (77 Points)
16 January 2010hi everyone
sec 253 says that no body corporate , association or firm shall be appointed director of a company , and only an individual shall be so appointed
why only an individual is eligible and nobody else
regards
pawan
Vivek
(Finally passed CA Final...!!!!!)
(1097 Points)
Replied 16 January 2010
Directors position requires some kind of personal performance & attacts some kind of personal liability in case of default.... So, only individuals & no corporates as directors.
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 16 January 2010
| Originally posted by : pawan | ||
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hi everyone sec 253 says that no body corporate , association or firm shall be appointed director of a company , and only an individual shall be so appointed why only an individual is eligible and nobody else regards pawan |
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Hello Pawan,
Many decisions are required to be taken by directors, in ordinary course of business..
so it an individual who is mentally fit for decision making can be only the director of the company.. Sec 274 again supports sec 253.
Adarsh
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
