World's youngest C.E.O in India.

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61

Re: World's youngest C.E.O in India.

i don't know the company laws of india.......but if there is a 'company' usually there is requirement that the 'CEO' is atleast an adult and of suitable qualification...:D

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Re: World's youngest C.E.O in India.

Shiiii that reminds me, Suhas had to register his company in the US because at 14 he was considered a minor and couldn't run a company. But I think that was just owning a company, not having a simple title.

63

Re: World's youngest C.E.O in India.

Yep , India inherited the same company laws from Brits as did Pakistan so for a registered company or for entering into a binding business contract you have to be of certain age.

In case of MD or WTD

For the appointment of a person as managing director or whole time director, he is required to fulfil the conditions specified in Schedule XIII of the Companies Act, or else take the approval of the Central Government. One of the conditions as per Part I of Schedule XIII is as under:

Managerial person has completed the age of 25 years and has not attained the age of 70 years.

Exception: A special resolution is required for the appointedment of a managerial person if he

(i) Has attained the age of 70 years; or

(ii) Has not completed the age of 25 years, but has attained the age of majority (i.e. 18 years).

Competent To Contract

Section 11 of The Indian Contract Act specifies that every person is competent to contract provided:
1. He should not be a minor i.e. an individual who has not attained the age of majority i.e. 18 years.
2. He should be of sound mind while making a contract. A person with unsound mind cannot make a contract.
3. He is not a person who has been personally disqualified by law.

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Re: World's youngest C.E.O in India.

yea...how can a MINOR enter a contract let alone appointed a Managing Director/CEO???

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Re: World's youngest C.E.O in India.

Indians just like to hype their people up as the best thing since sliced bread. Like Parthiv Patel.

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Re: World's youngest C.E.O in India.

750 views and 65 posts, I consider it Job well done :)