Goodwill Electronics OPC incorporated on 1st July, 2015 as a One Person Company with an authorized and paid up share capital of rupees forty lakhs recorded turnover of rupees forty five lakhs in the first nine months end

CS Professional · Advanced Company Law and Practice · PYQS · December 2017
Goodwill Electronics OPC incorporated on 1st July, 2015 as a One Person Company with an authorized and paid up share capital of rupees forty lakhs recorded turnover of rupees forty five lakhs in the first nine months ended 31-3-2016 and ₹ 135 lakhs during the next nine months ended 31-12-2016. Having seen the fast growing potential of his business in the IT-ES sector, Mr. Victor, promoter and sole director of the Company desires to make further investment of ₹ 50 lakhs from his friends. He seeks your advice on the following: (iii) Whether Mr. Victor can include two or three of his friends as directors of the Company to support him in the management of the Company.

Answer & Explanation:

Mr. Victor can include two or three of his friends as directors of the Company so as to support him in the management of the Company subject to the maximum number of directors i.e. 15 as stated in Section 149(1)(b) of the Companies Act or such other larger no. of directors after passing a special resolution in this regard.

Topics: Board of Directors

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