DEAR ALL,
NBFC - its urgent
Shraddha Shukla (Corporate law Consultant) (346 Points)
11 August 2010Shraddha Shukla (Corporate law Consultant) (346 Points)
11 August 2010DEAR ALL,
HARDIK
(COMPANY SECRETARY NCFM (Corporate Governance ))
(664 Points)
Replied 11 August 2010
Hi
As far as company law concern MD can be foreigner and also board member.
A company can have two md as well.
vivek
(CS)
(751 Points)
Replied 11 August 2010
Upto my understanding;
Here the provisions of the Companies Act, 1956 will apply because NBFC's are governed by the said act as well as the RBI Act, 1934. Chapter IIIB of RBI Act, 1934 deals with the provisions of NBFC and that is silent on this matter. In nutshell, yes there can be two MD in a NBFC, a Foreigner can be Director as well as MD.
Regards,