Dear Friends,
Can a whole time director be appointed as a CFO in a same company and whether same person can act as a CFO for 2 companies??
2 Replies
Hemant Pandit
(articl assistant)
(284 Points)
Replied 24 May 2014
yes a WTD can be a CFO in a company.. ..
normally WTDs are CFO of the company so he cannot be appointed as WTD+CFO in other company... i think there is no provision in companies act 1956 Section 316/386 apply only for MDs/managers
he can be appointed only as CFO without directorship....
See others reply as well......
CA. Amit G. Chandani
(Entrepreneur/Consultant)
(1312 Points)
Replied 24 May 2014
If company is covered u/s 203, no single person can hold 2 whole-time key managerial positions simultaneously together. A whole time CFO shall not hold office im more than one company except in its subsidiary company at the same time.
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