Clarification on applicability of requirement for resident director.

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..... istrars of Companies, All Stakeholders. Subject: Clarification on applicability of requirement for resident director. Sir, Section 149(3) of the Companies Act, 2013 (Act) requires every company to have at least one director who has stayed in India for a total period of not less than 182 days in the previous calendar year. Government has received requests from stakeholders for c .....

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..... ompanies incorporated between 1.4.2014 to 30.9.2014 should have a resident director either at the incorporation stage itself or within six months of their incorporation. Companies incorporated after 30.9.2014 need to have the resident director from the date of incorporation itself. This issues with the approval of the competent authority. Yours faithfully, (KMS Narayanan) Asstt. .....

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