TMI BlogNumber of directorshipsX X X X Extracts X X X X X X X X Extracts X X X X ..... in which a person can be appointed as a director shall not exceed ten. 1 [Explanation I].- For reckoning the limit of public companies in which a person can be appointed as director, directorship in private companies that are either holding or subsidiary company of a public company shall be included. 2 [Explanation II.-For reckoning the limit of directorships of twenty companies, the d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olding the office of director before such commencement and to the Registrar having jurisdiction in respect of each such company. (4) Any resignation made in pursuance of clause (b) of sub-section (3) shall become effective immediately on the despatch thereof to the company concerned. (5) No such person shall act as director in more than the specified number of companies,- (a) after des ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ANIES (AMENDMENT) ACT, 2019 before it was read as punishable with fine which shall not be less than five thousand rupees but which may extend to twenty-five thousand rupees for every day after the first during which the contravention continues 4. Substituted vide THE COMPANIES (AMENDMENT) ACT, 2020 dated 28-09-2020 before it was read as (6) If a person accepts an appointment as a di ..... X X X X Extracts X X X X X X X X Extracts X X X X
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