It business related questions

Dear client,
You can certainly establish your own IT company as a director while holding a position as a senior consultant, but it is important to address several key considerations. Review your employment contract for any conflict of interest or non-compete clauses and be prepared to disclose your new business if necessary. Avoid any overlap between your consulting work and your new venture, and balance your time effectively between both roles. Ensure you meet all legal obligations for setting up your business, including registration, obtaining licenses, and fulfilling tax requirements, while also safeguarding against the misuse of confidential information from your current job. Plan your finances carefully and create a comprehensive business plan, including strategies for marketing and staff recruitment if needed. Seeking advice from a legal or tax professional can help you navigate these aspects and manage both roles successfully. Hope our prompt support in this matter would be greatly appreciated.

Starting or running a parallel business when you are working has certain ramifications and all depend upon the company policy where you are working. Most of the companies have policies that you can start or run a business of your own when you are working there and some companies have the rule that if you are a Director in any company then you have to disclose the same to your employer.
Secondly if you are planning to start or run a business similar to what your present employer company is doing then you might also be bound by the clauses like "Non -Compete" and 'Non-Solicitation" from your employment contract.

Dear Client,
According to the Companies Act, 2013, there is no such provision that forbids the director to be an employee of another company. The roles and responsibilities of director and employee are very different but they are equally important too. If a person wishes to hold both positions, he might face some consequences. An employee of a company may be appointed as a Director, but in that case, he is acting in a dual capacity. There is no overarching law that prohibits a person from doing multiple jobs. It is not illegal however both companies should not have the clause “cannot take up work full time in some other company” Most companies have a conflict of interest policy. As a result, it restricts employees from doing side business or starting a business in the same industry. Therefore, legally you cannot start a business/company in your name if it is against your job contract.