law: Companies Act, 2013 
  165.
  
    Number
  
  of directorships  .
  1.      No person, after the
  
  commencement of this Act, shall hold office as a director, including any
  
  alternate directorship, in more than twenty companies at the same time:
  Provided
  
  that the maximum number of public companies in which a person can be appointed
  
  as a director shall not exceed ten.
  Explanation .Ś For reckoning the
  
  limit of public companies in which a person can be appointed as director,
  
  directorship in private companies that are either holding or subsidiary company
  
  of a public company shall be included.
  1.     
  2.      Subject to the
  
  provisions of sub-section (1 ), the members of a company may, by special
  
  resolution, specify any lesser number of companies in which a director of the
  
  company may act as directors.
  3.      Any person holding
  
  office as director in companies more than the limits as specified in
  
  sub-section (1 ), immediately before the commencement of this Act shall,
  
  within a period of one year from such commencement,Ś
  a.     
  
    choose
  
  not more than the specified limit of those companies, as companies in which he
  
  wishes to continue to hold the office of director;
  b.    
  
    resign
  
  his office as director in the other remaining companies; and
  c.     
  
    intimate
  
  the choice made by him under clause (a ), to each of the companies in
  
  which he was holding the office of director before such commencement and to the
  
  Registrar having jurisdiction in respect of each such company.
  1.     
  2.     
  3.     
  4.      Any resignation made
  
  in pursuance of clause (b ) of sub-section (3 ) shall become
  
  effective immediately on the despatch thereof to the company concerned.
  5.      No such person shall
  
  act as director in more than the specified number of companies,Ś
  a.     
  
    after
  
  despatching the resignation of his office as director or non-executive director
  
  thereof, in pursuance of clause (b ) of sub-section (3 ); or
  b.    
  
    after
  
  the expiry of one year from the commencement of this Act, whichever is earlier.
  1.     
  2.     
  3.     
  4.     
  5.     
  6.      If a person accepts
  
  an appointment as a director in contravention of sub-section (1 ), he
  
  shall be punishable with fine which shall not be less than five thousand rupees
  
  but which may extend to twenty-five thousand rupees for every day after the
  
  first during which the contravention continues.