Startup at 16-Reduce the age limit to become a director in an Indian startup from 18 to 16
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Startup at 16-
India has 600 million young people and they are the world’s future. In this enterprising era, young individuals are trying to execute innovative ideas. Their ideas can change our world in ways we can’t yet imagine. We need to tap into the dynamism of young entrepreneurs, for they have the potential to disrupt inertia and be forces for change.
But the age requirement to register as a director in a startup is putting a restriction on their potential. Being an entrepreneur myself, I have experienced this hurdle first hand and believe that an exponential amount of opportunity can be unlocked by amending the the Companies Act, 2013 and the Indian Contract Act,1872.
Parts of the act that need amendment-
1) Application for Allotment of DIN (Section 153,Companies Act 2013)-Application must be accepted for a person above 16 years of age
2) Application for DIN must be approved from 16 years of age
3) Section 184 of the Indian Contract Act,1872 because the director acts as an agent of the company
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