DEAR MEMBERS
I HAVE A QUESTION IS THT
DOES A NOMINEE DIRECTOR INCLUDES IN MINIMUM NO OF DIRECTORS OF A COMPANY
4 Replies
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 11 August 2009
Yes.
A nominee director is a regular director with full powers of a director.
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 11 August 2009
Dear Ms. Khushboo
The nominee director is not counted for determining the strength of the Board or for the purpose of retirement of directors by rotation in the case of nominees and institutions which nominate them by virtue of the power vested in them under the enactments under which they have been constituted. In other case such nominees will be counted for the purpose of determining the strength of the Board and for determining the number of directors liable to retire by rotation.
Regards
Kanheiya Jain
(student)
(34 Points)
Replied 11 August 2009
No. The nominee director is not included in minimum of director.
Hitesh Kothari
(Chartered Accountant M.No. - 134239)
(326 Points)
Replied 11 August 2009
Dear Khushboo,
Nominee Director is the director who represent the other person who may be Co, Institution or Individual.
Depending upon the case of his appointment he may be included to calculate the min no of directors in a Co.
1 ) Appointed by a institution under the power vested under provincial Act can not be included for such limit.
2) otherwise appointed director will have power as defind in the companies act so they will be included in such limit.
Thanks & Regards
Hitesh
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