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Md in two or more companies

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 October 2011 Can a person be appointed as Managing Director of two or more private companies. Pls clarifity.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
23 October 2011 A person may be appointed as a managing director of more than two private companies as Section 316 does not apply to a private company. Hence, no permission of the Central Government is required to be obtained in this regard. [DCA Notification No. GSR 577(E), dated 16-7-1985].
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