I am helping a UK ngo setup a section 25 company in Karnataka. I am done with my part of research, yet ended up with certain queries un answered. Appreciate any help in this regard... 1. Can a foreign director hold the shares during incorporation of the company? 2. Is it compulsory to have a indian managing director? 3. Can a managing director who is also a member with certain percentage of share be paid remuneration or salary? 4. Whats the procedure to get section 25 license from the regional director? 5. Should the application be submitted to regional director or to the local ROC? 6. whats the meaning of election by ballot? 7. What is the minimum number of board meetings a year? 8. If two directors reside outside india and one in india, can an indian director hold board meeting with proxies of the other two? 9. Is it compulsory to have the board meetings in India or the place of registration? 10. Whats the difference between paid up and working share capital? 11. Is it possible to get a MOA / AOA for a section 25 company which is into providing technology support to the society? 12. Whats the minimum time period required for registering a section 25 companies? 13. Is there any other clearance /license required if one of the foreign director paying all the setup charges including share capital?