Section - 203 - Appointment of key managerial personnel
Appointment of key managerial personnel.203. (1) Every company belonging to such class or classes of companies as may be prescribed shall have the following whole-time key managerial personnel,-
(i)
-
managing director, or Chief Executive Officer or manager and in their absence, a whole-time director;
(ii)
-
company secretary; and
(iii)
-
Chief Financial Officer :
Provided that an individual shall not be appointed or reappointed as the chairperson of the company, in pursuance of the articles of the company, as well as the managing director or Chief Executive Officer of the company at the same time after the date of commencement of this Act unless,-