Appointment of manager and managing director
This query is : Resolved
12 July 2010
Can a manager and Managing Director co-exist in a company at the same time?
12 July 2010
Yes but their salary must be as per section 309 of the Companies Act, 1956.
12 July 2010
yes
12 July 2010
12 July 2010
NO
As per section 197A of the companies act, 1956 a company can not have manager and managing director simultaneously.
Thanks
As per section 197A of the companies act, 1956 a company can not have manager and managing director simultaneously.
Thanks
Message likes :
1 times
12 July 2010
agreed with ankur
12 July 2010
thanks to all the people who replied and special thanks to ankur sir for correct reply.
197A. Company not to appoint or employ certain different categories of managerial personnel at the same time
1[Prohibition of simultaneous appointment of different categories of managerial personnel.
Notwithstanding anything contained in this Act or any other law or any agreement or instrument, no company shall, after the commencement of the Companies (Amendment) Act, 1960 (65 to 1960), appoint or employ at the same time, or after the expiry of six months from such commencement, continue the appointment or employment at the same, of more than one of following categories of managerial personnel, namely:-
(a) managing director,
1[* * *],
(d) manager.]
1. Ins. by Act 65 of 1960, sec. 55 (w.e.f. 28-12-1960). 2. Clause (b) and (c) Omitted by Act 53 of 2000, sec. 84 (w.e.f. 13-12-2000).
197A. Company not to appoint or employ certain different categories of managerial personnel at the same time
1[Prohibition of simultaneous appointment of different categories of managerial personnel.
Notwithstanding anything contained in this Act or any other law or any agreement or instrument, no company shall, after the commencement of the Companies (Amendment) Act, 1960 (65 to 1960), appoint or employ at the same time, or after the expiry of six months from such commencement, continue the appointment or employment at the same, of more than one of following categories of managerial personnel, namely:-
(a) managing director,
1[* * *],
(d) manager.]
1. Ins. by Act 65 of 1960, sec. 55 (w.e.f. 28-12-1960). 2. Clause (b) and (c) Omitted by Act 53 of 2000, sec. 84 (w.e.f. 13-12-2000).
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