pursuant to sec 203 a company cannot appoint MD and CEO at the same time.
my question is what if we put a clause to appoint both of them at the same time in its articals! Now do we have power to appoint?
4 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 28 July 2022
Same person appointed both positions at a time but 2 persons can be appointed separately at a time
Chirag
(Professional)
(1979 Points)
Replied 29 July 2022
One Person Can Be Both MD & CEO ,there is no restriction as such in 203...only restriction is for Chairman and MD ( CMD ) but again company of is in different business's vertical or AOA prescribe otherwise then one person can be CMD..
JYOTI VERMA
(3 Points)
Replied 16 August 2022
A company can appoint same person as managing director or CEO
the section 196 says that company cannot appoint same person as MD as well as chairman at the same time and there are proviso for that too where same person can be appointed as MD as well as chairman.
another restriction is that company cannot appoint a person MD as well as manager at the same time..
the section 196 says that company cannot appoint same person as MD as well as chairman at the same time and there are proviso for that too where same person can be appointed as MD as well as chairman.
another restriction is that company cannot appoint a person MD as well as manager at the same time..
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 20 August 2022
But Yes Bank Ltd appointed Prashanth Kumar as MD and CEO
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