03 June 2012
Mr.X is already M.D. of two Public Ltd. Company,both of which belong to the same Group Company.Another sister concern of the said group desires to appoint him as their WTD.Can it be done.The Act provides that a person cannot be appointed as M.D. of more than two public limited companies.
A person whi is in whole time employment of a company can not give their services as Managing director in other company.
Yes, you are right the provision that a person can be appointed as MD in two companies but a WTD can not appoint in other company because he/she is in whole time employment of only that company in which he is appointed.
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