Penalty for not appointing any Managerial Personel

This query is : Resolved

Rishi Vyas (Querist)
Follow

08 October 2010 What is the penal provision in case a company does not appoint any of the three i.e. MD,WTD and Manager?

Ajay Mishra

Ajay Mishra (Expert)
Follow

09 October 2010 Dear Friend

As per section 269 (1), a public company or private company which is subsidiary of a public company, having paid up share capital of Rs. 5 crore or more shall have a managing director or whole time director or manager.

Therefore, a private company is not required to have managing or whole time director or manager.

If you are not appointing any of them within time then there are many of sections of Companies Act, 1956 you will contravene, like section 161, section 215 etc…

Regards

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Ashutosh Purohit

Anu Raj

Anurag Sharma

divakar podaturu

AJAY Kumar Agrawal

Subscribe Now

Penalty for not appointing any Managerial Personel

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

Senior Executive

Accountant