The essential condition of the agm

oyayubihime (Querist) 14 August 2016 This query is : Resolved
There are two directors (as same as share holders) in our PVT.LTD company, Both are Japanese, and one live in India, another one live in Japan. We discuss for requirement in Skype. Now, CA said we have to appoint one Indian director and shareholder. Is it mandatory? I like to avoid it. Now business is temporally closed and very less turnover(Less than 10 lakh). Please give your answer and advice.
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Thank you so much for expert's advises.
CA said that appointment of one Indian(or a foreigner who live in India) director and shareholder required for AGM. Is it right?

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adv.bharat @ PUNE (Expert) 14 August 2016
No it is not mandatory to have such condition according to company law 2013.

Guest (Expert) 14 August 2016
The description of your query mismatches the title of your query.

The title is about AGM, but the question is about appointment of Indian director. Can you please clarify on this contradiction?

P. Venu (Expert) 15 August 2016
The matter requires professional consultation.

Rajendra K Goyal (Expert) 15 August 2016
Commercial query, have professional consultancy.

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