A PERSON SHALL NOT HOLD OFFICE AT THE SAME TIME AS DIRECTOR INCLUDING
ANY ALTERNATE DIRECTORSHIP IN MORE THAN 20 COMPANIES
A PERSON CAN BE APPOINTED AS A DIRECTOR IN ONLY 10 PUBLIC COMPANIES
(PVT CO. THAT ARE EITHER HOLDING OR SUBSIDIARY COMPANY OF A PUBLIC COMPANY SHALL BE INCLUDED IN THIS LIMIT)
DIRECTORSHIP IN A DORMANT COMPANY AND IN SEC 8 COMPANIES WILL NOT BE COUNTED FOR ABOVE CEILING LIMIT OF DIRECTORSHIP
MEMBERS OF THE COMPANY CAN RESTRICT FOR LESSER NUMBER OF COMPANIES IN WHICH ITS DIRECTOR MAY SERVE DIRECTORSHIP
PENALTY FOR CONTRAVENTION DIRECTOR IN CONTRAVENTION OF ABOVEMENTIONED PROVISIONS SHALL BE PUNISHABLE WITH A PENALTY OF RS. 5000/- FOR EACH DAY AFTER THE FIRST DURING WHICH SUCH CONTRAVENTION CONTINUES
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