Can we appoint managing director and Manager at a time in a company.
Please reply urgently.
Kanchi Agarwal (Technical Support & Student) (479 Points)
09 September 2009Can we appoint managing director and Manager at a time in a company.
Please reply urgently.
The company can appoint 2 MD or 2 Manager.
But The Company can not appoint the MD and Manager at the same time.
Section 197A. COMPANY NOT TO APPOINT OR EMPLOY CERTAIN DIFFERENT CATEGORIES OF MANAGERIAL PERSONNEL AT THE SAME TIME.
Notwithstanding anything contained in this Act or any other law or any agreement or instrument, no company shall, after the commencement of the Companies (Amendment) Act, 1960, appoint or employ at the same time, or after the expiry of six months from such commencement, continue the appointment or employment at the same time, of more than one of the following categories of managerial personnel, namely :-
(a) managing director and
(b) Manager
If You need further clarification than contact me.
Ankur Shah (Practicing Company Secretary)
“Guru Gautam” Bungalow, Inside Parshwa Tower,
Nr. Shyamal Cross Road, 132ft. Ring Road,
Satellite, Ahmedabad – 15
Contact: + 91-9427633901
E-mail: ankurjewel @ gmail.com
Blog: csankur.blogspot.com
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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