Vikash Malhotra (CA) (29 Points)
12 October 2012When a Non-Executive Director of a Unlisted Public Limited Company wants to join the Board of a Private Limited Company wherein none of the other Directors of that Unlisted Public Limited Company, is currently holding any position neither director nor shareholder or employee.
Aditya Soni
(CS Final Student Trainee)
(727 Points)
Replied 12 October 2012
Dear Vikash,
As far as i think, in this case, NEDs of the Company need not give any disclosures as this is about a Private Company. {Sec 305(1) read with Sec 303(1)a}.
Regards,
Aditya
Smriti Dhawan
(Company Secretary )
(347 Points)
Replied 13 October 2012
In my opinion Disclosure is required to be made by Director to both the Companies at Board Meeting under Section 299 of Companies Act, in Form 24AA.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 13 October 2012
Agree with Ms. Smriti only disclosure of interest under form 24AA will be sufficient.
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