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Appointment of cfo

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(Querist)
26 November 2014 Whether a private company which is a wholly owner subsidiary of a foreign company having a paid up capital of more than Rs.10 Crore need to appoint a qualified chartered accountant as CFO?
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
27 November 2014 According to my view, CFO need to be appointed

Section 2(18)/(19) of the Companies Act, 2013 defined “Chief Executive Officer”/ “Chief Financial Officer” as an officer of a company,who has been designated as such by it;

It doesn't mention that CFO must be CA
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