Friday, May 2, 2014

Restriction on Number of Directorship

A person cannot be director in more than 20 Companies of which maximum 10 can be public companies.

Any person who was director in more than 20 companies should choose the companies in which he wants to continue and resign from the remaining companies. He should inform his coice to all the companies where he is director.

Maximum transitory period allowed is one year.

-

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Bombay High Court rules excess royalty refunded pursuant to tax authority’s Advance Pricing Agreement with associated enterprise is not taxable

  This Tax Alert summarizes Bombay High Court (HC) ruling [1] in the case of CIT v. Gemological Institute of America Inc (Taxpayer/GIA US) ...