Companies Act, 1956
Section - 315 - [OMITTED BY THE COMPANIES (AMENDMENT) ACT, 1960]
Restrictions on appointment of managing directorsApplication of sections and .315. [Omitted by the Companies (Amendment) Act, 1960. For the original section, refer ]Number of companies of which one person may be appointed managing director.316. (1) [No public company and no private company which is a subsidiary of a public company] shall, after the commencement of this Act, appoint or employ any person as managing director, if he is either the managing director or the manager of [any other company (including a private company which is not a subsidiary of a public company)], except as provided in sub-section (2).(2) [A public company or a private company which is a subsidiary of a public company] may appoint or employ a person as its managing .... To read the full section download the app from Google Play store
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