Director : new company: with no investment.

Querist : Anonymous (Querist) 28 February 2010 This query is : Resolved
Is it possible to appoint a director with no investment in a new or existing company?

if no then:

Except investment on what basis can a person be eligible for a director of a Pvt Ltd company?

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Raj Kumar Makkad (Expert) 28 February 2010
If such person is having such qualities which are necessary to be used for the business of the company.

Sarvesh Kumar Sharma Advocate (Expert) 28 February 2010
wht r d provisions of company's memorundam.
all depend upon that.

A V Vishal (Expert) 28 February 2010
The qualification shares for appointment as a director is subject to the clauses in Articles of Association, if the articles specifically states that the incumbent need not hold any qualification shares then there is no requirement but otherwise Yes.

Parveen Kr. Aggarwal (Expert) 28 February 2010
In case the company has obtained financial assitance from a State Financial Corporation, such Corporation may also appoint Nominee Directors for such company.

Heaven 2011 (Expert) 01 March 2010
Companies Act does not provide for any specific qualification for a person to be appointed as the director of the company. Provided Article of the Private Company may contain the the minimum share qualification requirement and it may also cointain any specific disqualiofication criterion for the Directors.

Kumar Thadhani (Expert) 02 March 2010
I agree with ExpertMr. vishal &Mr Parveen.

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