Can a Disqualified Director become Subscriber to the Memorandum in a Company to be incorporated

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Dear All, Please clarify the following. Whether a Disqualified Director can become a Subscriber to the Memorandum in a Company to be incorporated? On reading the act I find no restrictions on the same. However, when I practically tried to fill the spice+ form, I'm not able to Associate the DSC of the person who was disqualified as a director in some other company, for signing the MOA as a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... subscriber to the memorandum. Can someone guide me on the Act and practical issues faced while signing the MOA. Thank you in advance for the help. - Reply By TANAY GHILDIYAL - The Reply = Ofcourse company's ownership is permitted, but if they were to act in one of the following ways it would become extremely tough to avoid a director disqualification breach. as de facto director (or d .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... irector in fact ) who acts as a director, but who hasn t been formally appointed or recorded as director in the company s records or at Companies House as a shadow director who isn t openly acting as a director, but is instructing another company director in the performance of his or her duties and the direction of the company as a corporate director who is appointed to sit on the Board as a n .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... on-executive directors who in terms of management and direction of the company and responsibilities, such as the financial affairs of the company, is no different to a formally appointed and registered director So yes he can be the Subscriber but watch for his further roles to aviod litigation - Can a Disqualified Director become Subscriber to the Memorandum in a Company to be incorporated - Qu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ery Started By: - THYAGARAJAN KALYANASUNDARAM Dated:- 3-9-2020 Corporate Laws / SEBI / LLP - Got 1 Reply - Companies Law - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X