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Can a Disqualified Director become Subscriber to the Memorandum in a Company to be incorporated
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....an a Disqualified Director become Subscriber to the Memorandum in a Company to be incorporated<br> Query (Issue) Started By: - THYAGARAJAN KALYANASUNDARAM Dated:- 3-9-2020 Last Reply Date:- 28-9-2020 Corporate Laws / SEBI / LLP<br>Got 1 Reply<br>Companies Law<br>Dear All, Please clarify the following. Whether a Disqualified Director can become a Subscriber to the Memorandum in a Company to be i....
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....ncorporated? 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 subscriber to the memorandum. Can someone guide me on the Act and practical issues faced while signing the MOA. Thank you in advance f....
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....or 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 director "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 Compan....
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....ies 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 non-executive directors who in terms of management and direction of the company and responsibilities, such as the financial affairs of the compa....
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....ny, 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<br> Discussion Forum - Knowledge Sharing ....