Appointment of Key Managerial Personnel under Section 203 of the Companies Act, 2013



Quick Summary
Section 203 of the Companies Act, 2013, introduced the concept of Key Managerial Personnel (KMPs) for specific company types. KMPs typically include the CEO, Company Secretary, and CFO. The Act outlines the mandatory appointment of these roles for listed companies and public companies with a paid-up share capital of ten crores or more. There are also restrictions on holding dual roles, such as Chairperson and CEO, and rules regarding KMPs holding positions in subsidiary companies.

Definition of Key Managerial Personnel The concept of appointing Key managerial Personnel (KMPs)in the case of certain classes of companies has found a place in the statute Book for the first time through the insert of Section 203 of the Companies Act(herein after referred to as The Act).Before w
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Practicing Company Secretary

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