Question Regarding Business Agreement Between Directors | Vkeel - Free Legal Advice

Vaka Jayanth Reddy

Ongole

I am Jayanth, a 17-year-old entrepreneur. I would like to register a private limited firm in India. As per the rules, I cannot be a director or a shareholder because of my age. I have chosen 2 people who will be the directors of the company until I turn 18 on June 26 2020. Is it possible to draft up an agreement which states that they will transfer the company ownership to me after I turn 18 and that they are just the signing parties for these few months whereas I\'m the one making the decisions back end. If yes, how do I go about doing it. I understand that this is a complicated issue. Thank you very much for taking the time to read.

Expert's Answers(3)

H K Chaturvedi, Advocate Supreme Court.
Noida, Uttar Pradesh

12 Client Ratings

Go as per advice. Since you are minor it's issue. Book Consultation for further help.

May 13, 2020
Kishan Dutt Kalaskar 40 years Exp (Retired Judge)
Bengaluru Urban, Karnataka

187 Client Ratings

Dear Sir, Through your guardian you can get such agreement with proposed directors.

February 19, 2020
Advocate Suneel Moudgil
Panipat, Haryana

40 Client Ratings

since you are a minor therefore no agreement can be executed which includes you, however, your family members can enter into any agreement which states that you will join the company on or after 18 June or so,

February 8, 2020