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Possibility of Whole time director hold a sole proprietor position

N SETHURAMAN (Accountant) (63 Points)

06 June 2016

Whether a whole time director will start a sole proprietor firm? If possible, which section of the companies act? Thanks in advance

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P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 06 June 2016

Article 19 of Constitution of India gives right to every citizen to carry on any lawful business or profession in India. Just check restrictions, if any, in employment terms for carrying on similar business. Subject to this, director can at his option start business. Companies Act does not come into picture in this issue.