M.D.

    Posted By : Arun Kumar / Published on : 23-Oct-2017 04:25 AM / View : 374 / Comment : 3
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    Can a person,who is already M.D. of a Holding Company and its Subsidiary,be appointed as M.D. of any more Company?
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    • No they can't be appointed. As per provisions of MD they can be appointed for more than one company and as per provisions of kmp they can be appointed in only one subsidiary company along with holding position in holding co... But if managing director is appinted as KMP then section 203 calls for whole time kmp,  so MD need to be apointed on whole time basis in holding and its subsidiary and not allowed to be appointed in any other company. Suggestions welcomed @csanjali.gorsia@gmail.com 

      23-10-2017 / 11:15:21 PM
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    • Very good question regarding appointment of MD sir, and as per my view, after going through the provisions of section 203(3) of Companies Act 2013, I think that MD can be appointed in any other company. Because as per provisions. KMP can be appointed in holding and subsidiary company at same time (which i treated as working for one company) and AS per provisions regarding appointment of MD, MD can be appointed in not more than two companies. So here holding and subsidiary company will be treated as working for one company. And henceforth he can be appointed in any other company.
      I apologize if I am mistaken here sir,
      Im a just a student and tried interpreting the provision.
      Thanks
      Regards
      Nikki

      24-10-2017 / 11:48:32 PM
      Reply



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