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Clarification on applicability of Resident Director

The Ministry of Corporate Affairs has issued a circular dated 26.06.2014 to provide clarification on the criteria of calculation of 182 days for the appointment of Resident Director as specified under section 149 (3) of the Companies Act, 2013 which says that a company shall have a director who has stayed in India for a period of not less than 182 days in the previous calendar year.

Henceforth, the ministry has clarified the position of law for the calculation of period of days of stay in India after having considered the ambiguity faced by the stakeholders i.e. it shall be reckoned from 1st April, 2014 to 31st December, 2014 as the first ‘previous calendar year’ for the appointment of Resident Director.

The circular containing such clarification can be accessed at the link given below.

Clarification on applicability of requirement for resident director.

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eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

One response to “Clarification on applicability of Resident Director”

  1. Wow! Thank you! I always needed to write on my website something like that. Can I include a part of your post to my site?

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