Section - 388A - Sections 386 to 388 not to apply to certain private companies
[Sections to not to apply to certain private companies.388A. Sections , and shall not apply to a private company unless it is a subsidiary of a public company.]
24. Inserted by the Companies (Amendment) Act, 1960.
Number of companies of which a person may be appointed manager.386. (1) No company shall, after the commencement of this Act, appoint or employ any person as manager, if he is either the manager or the managing director of any other company, except as provided in sub-section (2).(2) A company may appoint or employ a person as its manager, if he is the manager or managing director of one, and not more than one, other company :Provided that such appointment or employment is made .... To read the full section download the app from Google Play store
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