I would like to know whether a Public Limited Company's Board of Directors need to have a managing director
3 Replies
hemishp
(Company Secretary)
(32 Points)
Replied 03 March 2009
not required as long as authorised/nominal capital of the is not more than five crores
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 04 March 2009
Under Section 269 of the Companies Act, 1956 every public company or a private company which is a subsidiary of public company having a paidup capital of not less than as may be prescribed(Currently Rs. 5 crore) shall have a managing or whole time director or a manager.
HARDIK
(COMPANY SECRETARY NCFM (Corporate Governance ))
(664 Points)
Replied 05 March 2009
Yes
As per section 269 of the companies act 1956 every public company and private company which is a subsidiary of public company having paid up capital of not less Rs. 5 crores have a managing or wholetime director.
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