MD appointment in more than 2 pvt ltd co.


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Querist : Anonymous

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Querist : Anonymous (Querist)
21 January 2010 can a person be appointed as a MANAGING DIRECTOR in more than 2 pvt ltd co's. Do we have to mention in the board resolution that he is already a MD in other co.

Ankur Garg (Expert)
21 January 2010 Hi,

Yes a person can be appointed as MANAGING DIRECTOR in more than 2 companies. Refer section 316.

No in second resolution there is no need to mentioned that he is already a MANAGING DIRECTOR in other company.

Regards

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 January 2010 Section 316 dos not put any restrictions on pvt ltd co. So can a person be appointed as a MD in so many pvt ltd co he wants to.

Ankur Garg (Expert)
21 January 2010 Correct. There is no legal restriction. But later on ROC may object to this practice when you upload form-32 for the same person again and again.


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