Separate Business of MD
This query is : Resolved
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Ankur Patel
(Querist)
04 February 2020
Whether a Managing Director can have his own separate business?
CA R SEETHARAMAN
(Expert)
04 February 2020
Yes he can have........
Ankur Patel
(Querist)
05 February 2020
Can you please give reference of Case Law or The Companies Act provision.
CA R SEETHARAMAN
(Expert)
05 February 2020
There is no provision in Companies Act, 2013 that prohibits the same. There are many people who are in employment elsewhere and become director in their own company. So that is possible, unless the company where he/she is doing job objects on the same. The person gets appointed by virtue of majority shareholding.
Amol S Joglekar
(Expert)
05 February 2020
Yes, the MD can have own business
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