Can md and chairman be the same person?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2017
Sir,
1.In a hospital, regd as company with 15 crore authorised capital ...can the same person be the MD &chairman at the sametime?
2.In an extended AGM can the board of directors pass such a resolution?
3.Is there any minimum shareholding requirement to be eligible to be appointed as above?
1.In a hospital, regd as company with 15 crore authorised capital ...can the same person be the MD &chairman at the sametime?
2.In an extended AGM can the board of directors pass such a resolution?
3.Is there any minimum shareholding requirement to be eligible to be appointed as above?
Jatin Bajaj
(Expert)
02 March 2017
ACCORDING TO SECTION 203(1) FIRST PROVISO, AN INDIVISUAL SHALL NOT BE APPOINTED AS THE CHAIRPERESON AND AS WELL AS THE MANAGING DIRECTOR OR CEO AT THE SAME TIME UNLESS THE ARTICLES PROVIDE OTHERWISE OR COMPANY CARRY MULTIPLE BUSINESS.
Companies which carry multiple business and which has appointed one or or more CEO as may be prescribed can appoint at the same time , the managing Director as well as the Chairman of the Company,
In following companies which have multiple business and has appointed one or more ceo are permitted to have same time maanging director as well as the chairman.
public company having the paid up share capital of 100 crore rupees or more and annual turnover of rs. 1000 crore rupees or more
Companies which carry multiple business and which has appointed one or or more CEO as may be prescribed can appoint at the same time , the managing Director as well as the Chairman of the Company,
In following companies which have multiple business and has appointed one or more ceo are permitted to have same time maanging director as well as the chairman.
public company having the paid up share capital of 100 crore rupees or more and annual turnover of rs. 1000 crore rupees or more
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