Duartion of appointment of MD

This query is : Resolved

poonam verma (Querist)
Follow

01 March 2008 In case of Pvt. co. which is not a subsidiary of public Co. what sholud be the period of appointment of Managing Director while sec. 317 of Companies Act restricting the period of appointment to 5 years is not applicable to a pvt. co.

Poonam

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
Follow

01 March 2008 AS SECTION 317 RESTRICT THE APPOINTMENT OF MD OF PUBLIC LTD COMPANY TO 5 YEARS ,THERE IS NO AS SUCH PROVISION FOR MD OF PVT COMPANY THEREFORE HE CAN BE FOR ANY PERIOD

R.V.RAO

R.V.RAO (Expert)
Follow

01 March 2008 THE RESTRICTIONS ON MANAGERIAL APPOINTMENT OF M.D UNDER SEC 317 OF CO'S ACT DOES NOT APPLY TO PVT. LTD. COMPANIES UNLESS THEY ARE SUBSIDIARY OF A PUBLIC LTD. CO.
SAME IS THE CASE UNDER SEC 269 WHICH REQUIRES APPOINTING A M.D OR WHOLE TIME DIRECTOR.
R.V.RAO

Upgrade to CAclubindia Pro. Subscribe Now!

Sanjeev Kumar Sharma

Sanjeev Kumar Sharma (Expert)
Follow

01 March 2008 i agree with the reply of two above experts

poonam verma

poonam verma (Querist)
Follow

01 March 2008 Thanks everyone