Wht are "Qualification Shares"??
Dhananjay Deepak (Articleship) (152 Points)
23 March 2009Wht are "Qualification Shares"??
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 23 March 2009
Qualification share under co. act are governed by section 270. The requirement of holding of qualification shares by the Directors is not mandated by the Companies Act, 1956.
As such if the Articles of Association of a Company do not require a Director to hold any qualification shares, a person can be a Director without being its shareholder. If a director fails to obtain Q.S. u/s 270 then within 2 months then it would be a ground of deemed vacation of office of director u/s 283(1)(a).
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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