Is it mandatory under the companies Act that the MD of a Pvt Ltd company should hold 51% of the share capital.
Kindly clarify
4 Replies
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 27 August 2009
Dear Mr. Madhukar
It is not mandatory for tne managing Director to hold share capital of the company.
Regards
khushboo
(CS)
(234 Points)
Replied 27 August 2009
| Originally posted by :Madhukar | ||
| " | Is it mandatory under the companies Act that the MD of a Pvt Ltd company should hold 51% of the share capital. Kindly clarify |
" |
There is no provision of shareholding by MD on mandatory basis.
but if AOA specify then director have to hold Qulification share on compulsory basis.
hope tht will be helpful for u
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 27 August 2009
Dear Madhukar,
It is not necessary for the MD to hold any share in the Company.
However, if the Articles specify then he has to compulsarily hold Qualification Shares. But not 51% Shareholding of the Company.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 27 August 2009
Agree with learned members.
Recent Topics
- Softex For freelancer ?
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
Related Threads
CAclubindia
