If a company say having a paid share capital of above 10 crores appoints both CEO and Managing Director..
Then, who shall be considered as KMP ?
The definition of the term Key Managerial Personnel is contained in Section 2(51) of the Companies Act, 2013. The said Section states as under:
“key managerial personnel”, in relation to a company, means—
(i) the Chief Executive Officer or the managing director or the manager;
(ii) the company secretary;
(iii) the whole-time director;
(iv) the Chief Financial Officer; and
(v) such other officer as may be prescribed;
So , according to this definition, both CEO and Managing Director can be considered as KMP.
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