16.Amarco Company Limited, a company incorporated under the Companies Act, 2013, wants to appoint Mr. Ashwin as a Whole Time Director of the Company. Mr. Ashwin travels to abroad for other business commitments and usually resides outside India for a period of 12 months. Now Mr. Ashwin wants to know the eligibility conditions, with respect to the condition of resident in India, for the appointment of Whole Time Director. You as a qualified Chartered Accountant and a dear friend to Mr. Ashwin is required to help him out considering the provisions of the Companies Act, 2013


Note: Amarco Company Limited is a company established in special economic zone. Mr. Abhishek continues to hold the office of Chief Financial Officer at F& Limited

(a) Mr. Ashwin should be a resident in India i.e. staying in India for a continuous period of not less than twelve months immediately preceeding the calendar year in which he is to be appointed as a Whole Time Director.

(b) Mr. Ashwin is not required to comply with the condition of resident in India, as the condition of staying in India for a continuous period of not less than twelve months immediately preceding the calendar year, does not applies to a company established in the Special Economic Zone.

(c) Mr. Ashwin should be a resident in India i.e. staying in India for a continuous period of not less than twelve months immediately preceding the date of his appointment as a Whole Time Director.

(d) Mr. Ashwin is not required to comply with the condition of resident in India, as the condition of staying in India for a continuous period of not less than twelve months immediately preceding the date of his appointment, does not applies to a company established in the Special Economic Zone.
























Ans: (d) Mr. Ashwin is not required to comply with the condition of resident in India, as the condition of staying in India for a continuous period of not less than twelve months immediately preceding the date of his appointment, does not applies to a company established in the Special Economic Zone.


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