yashsr (CA) (2285 Points)
20 February 2012Hello,
Are there any restrictions on working of a pvt ltd co(or for that matter a public company) if all the directors of the Co. are foreign directors? If yes, do things change if one Indian National Director is added?
By Foregin Directors I mean Foreign Nationals(i.e. not Indian citizens) but who do live in India for more than 182 days a year which means they're 'Resident' as per the Income Tax Act.
prakash
(Company Secretary)
(1352 Points)
Replied 23 February 2012
There are no restrictions in the Act, if all the directors in private company are foreign nation, what is important here is that residential status since all the directors are resident in india, they can be well availble for the board meetings and other functional activities.
CAclubindia
