hi everyone..
can someone please tell me if articles prescribe time limit of 3 months to obtain qualification shares, then what is the time limit as per sec. 270
CA Ashish Pathak
(Employed at Cipla Ltd.)
(2779 Points)
Replied 28 December 2012
Rohit Kapoor
(CA Final)
(543 Points)
Replied 28 December 2012
Aseem Narang
(C.a Student)
(34 Points)
Replied 23 February 2014
Sec. 283 specifies.. if a director with in 2 months from his Appointment, did't take Qualification shares.. he has to VAccate his OFFIce..
so indirectly the period is absolute.. of 2 months..
vijay
(article)
(122 Points)
Replied 26 February 2014
as per sec 270 the requirement is to abtain shares within 2 months and the provision is absolute no up or down can be made otherwise article will be void. this is only in case of public co. not in case of private co., in case of private co. time limit can be fixed by articles.
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