Duartion of appointment of MD

This query is : Resolved

poonam verma (Querist)
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01 March 2008 In case of Pvt. co. which is not a subsidiary of public Co. what sholud be the period of appointment of Managing Director while sec. 317 of Companies Act restricting the period of appointment to 5 years is not applicable to a pvt. co.

Poonam

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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01 March 2008 AS SECTION 317 RESTRICT THE APPOINTMENT OF MD OF PUBLIC LTD COMPANY TO 5 YEARS ,THERE IS NO AS SUCH PROVISION FOR MD OF PVT COMPANY THEREFORE HE CAN BE FOR ANY PERIOD

R.V.RAO

R.V.RAO (Expert)
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01 March 2008 THE RESTRICTIONS ON MANAGERIAL APPOINTMENT OF M.D UNDER SEC 317 OF CO'S ACT DOES NOT APPLY TO PVT. LTD. COMPANIES UNLESS THEY ARE SUBSIDIARY OF A PUBLIC LTD. CO.
SAME IS THE CASE UNDER SEC 269 WHICH REQUIRES APPOINTING A M.D OR WHOLE TIME DIRECTOR.
R.V.RAO

Sanjeev Kumar Sharma

Sanjeev Kumar Sharma (Expert)
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01 March 2008 i agree with the reply of two above experts

poonam verma

poonam verma (Querist)
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01 March 2008 Thanks everyone

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