Advertise With Us

    Age limit for appointment of a Managing Director

    Posted By : damini / Published on : 13-Apr-2020 03:27 PM / View : 677 / Comment : 1

    Print button
    Is there any Age limit for appointment of a Managing Director in a Public Company?
    Read more on : director managing appointment limit

    • Section 196 of the Companies Act, 2013

       

      Section 196 (3) No company shall appoint or continue the employment of any person as managing director, whole-time director or manager who —
      (a) is below the age of twenty-one years or has attained the age of seventy years:

      Provided that appointment of a person who has attained the age of seventy years may be made by passing a special resolution in which case the explanatory statement annexed to the notice for such motion shall indicate the justification for appointing such person;

      Provided further that where no such special resolution is passed but votes cast in favour of the motion exceed the votes, if any, cast against the motion and the Central Government is satisfied, on an application made by the Board, that such appointment is most beneficial to the company, the appointment of the person who has attained the age of seventy years may be made.

       

      Thus we can say that Maximum age criteria is 75 except approved by shareholders.

      14-04-2020 / 03:16:35 AM
      Reply
    Please Select File:



Other Queries from damini
Like us on Facebook
Follow Us on Twitter

We are always here to help you. Don’t hesitate to contact us anytime!

+91-9988424211 or ask@compliancecalendar.in