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Query

Priya jain (Article) (43 Points)

20 December 2015

can a co. have only non executive directors without having any executive one?

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9 Replies

SUNIL KUMAR JAIN (PRACTISING COMPANY SECRETARY) (187 Points)
Replied 03 January 2016

Yes, Where is the mandatory requirement of having WTD/ED?

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SUNIL KUMAR JAIN (PRACTISING COMPANY SECRETARY) (187 Points)
Replied 03 January 2016

Yes, Where is the mandatory requirement of having WTD/ED?

Priya jain (Article) (43 Points)
Replied 04 January 2016

Sir please clarify.

Hemant K (36 Points)
Replied 05 January 2016

Hi Priya,

In pvt. compay its possible. For public companies pls. see Section 203 of CA 2013 together with notification dated 25th July, 2014.

Regards

Hemant

Hemant K (36 Points)
Replied 05 January 2016

Hi Priya,

In pvt. compay its possible. For public companies pls. see Section 203 of CA 2013 together with notification dated 25th July, 2014.

Regards

Hemant

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Priya jain (Article) (43 Points)
Replied 09 January 2016

Thankyou Sir.

Would u pls give me the legal support for the Pvt. Co.?

Charu Srivastava (Company Secretary) (4210 Points)
Replied 09 January 2016

I agree with the Fellow CCI...In private Company directors can be non executive.

Every listed and public company having paid up capital of 10 crores shall have whole time managerial.

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Priya jain (Article) (43 Points)
Replied 10 January 2016

mam

I agree with you but when I have sent MGT-7 of a Pvt, co. for CS certification then he raised a query that its not possible even in case of a pvt. co. that it has no any Etxecutive director.

Now how can I support my view before him ?

CS Divesh Goyal (Practicing Compnay Secretary) (51450 Points)
Replied 13 January 2016

Ms. Priya,

1. It is not mandatory for the Companies to have Executive Director Except Every listed Company or public company having paid up share capital of Rs. 10 Crore.

2. Section 203 inforce the company to appoint executive Director.

3. Section 203 not applicable on the Private Limited Company.

You should make that CS understand this or ask him to show where its mention that its mandatory.

1 Like