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Powers and duties of managing directors

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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.
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Ajay Mishra

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Ajay Mishra (Expert)
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.


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