Managing Director in two companies

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2011 Sir,

We are having a unlisted public ltd company. We want to start another Pvt Ltd company. Whether the MD of first company has become also MD of the second company. If possible whether he can get salaries in both the companies.

Jayashree S Iyer

Jayashree S Iyer (Expert)
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23 March 2011 A person can be appointed as MD in maximum of two companies only. He can also get salaries from both the companies but the total remuneration should not exceed the maximum limits specified in Section 198 and 309 of the Companies Act, 1956.