Powers and duties of managing directors
This query is : Resolved
Guest
Guest
(Querist)
09 March 2012
IF A PRIVATE LIMITED HAVE A MANAGING DIRECTOR AND DEPUTY MANAGING DIRECTOR THAN WHETHER THE POWERS AND DUTIES OF BOTH THE DIRECTORS ARE SAME.
10 March 2012
Hi
In case of private limited company, the provisions of Companies Act, 1956 read with Schedule XIII will not apply.
The Company is free to decide their terms of appointment of Managing Director.
It will depend on the terms of appointment. You can appoint more than on MD, and give substantial power to each of them but not necessarily give the management of affairs of the company as a whole to any one.
Regards
In case of private limited company, the provisions of Companies Act, 1956 read with Schedule XIII will not apply.
The Company is free to decide their terms of appointment of Managing Director.
It will depend on the terms of appointment. You can appoint more than on MD, and give substantial power to each of them but not necessarily give the management of affairs of the company as a whole to any one.
Regards
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