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CS Professional · Internal and Forensic Audit · Forensic Audit: Laws and Regulations

The Central Government notifies Mr. Iyer as Director of the SFIO. Which qualification must he satisfy under section 211 of the Companies Act, 2013?

The Director must be an officer not below the rank of Joint Secretary to the Government of India who has knowledge and experience in dealing with matters relating to corporate affairs, appointed by Central Government notification under section 211(3).

  1. AHe must be a practising Company Secretary with ten years' experience
  2. BHe must be an officer not below the rank of Joint Secretary to the Government of India, with knowledge and experience in corporate affairs mattersCorrect
  3. CHe must be a retired High Court judge
  4. DHe must be an officer not below the rank of Registrar of Companies

Explanation

Section 211(3) requires the Director to be appointed by the Central Government by notification and to be an officer not below the rank of Joint Secretary having knowledge and experience in dealing with corporate affairs matters. A Registrar rank is lower than required.

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