hi;frndzzzzz............
plz tell me that is it mandatory that a promoter must be the first director of the company........?
Promoter
pankaj (CA Final) (381 Points)
02 September 2010
3 Replies
Neha Gupta
(PCS)
(377 Points)
Replied 02 September 2010
No it is not mandatory that a "Promoter should be a First Director of the Company".
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 03 September 2010
Dear Friend
At the time of Incorporation the promoter and director can be different. It is not mandatory that promoter will be first directors. As per clause no. 64 of Article of Association of Table A of Schedule I of the Companies Act, 1956 the no of Directors and the name of First Directors shall be determined in writing by the subscribers of the MOA or majority of them. Section 254 also says subscribers to the memorandum shall be deemed to be a directors. So the name of first directors will be on the AOA of the Company.
Regards
CS Ajay Mishra
Kalpesh Chauhan,
(Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))
(8311 Points)
Replied 03 September 2010
| Originally posted by : Neha Gupta | ||
 |
No it is not mandatory that a "Promoter should be a First Director of the Company". |
 |
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