As per the new trequirment of Companies Act 2013 all Company must have one resident Director
This will chnage the practice of running a Company in India in which all its Directors are staying abroad . Henceforth atleast one Director must be in staying in India for 182 Days in each previous Calender year
CLARIFICATION FROM MCA
MCA has also issued some clarification in this regard ON 26th June 2014 as per which this requirment will be as follows
1. New law will be applicable from 1st April 2014
2. First calender year will be 2014
3. For 2014 nuber of days to be considered in only 136 Days
4, Companies to be incorporated after 30.9 2014 must have one resident Director at the time of Incorporation itself
5. Companies incorporated between April 14~Sept14 will have resident Director eaither at the time of Incorporation or with in six Months
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