Violation of Sec.316
This query is : Resolved
07 October 2009
Hi,
Can any body let me know the consequences of violation of sec.316 of Companies Act.
If prior approval of central govt is not obtained for appointment of a person as a MD/manager in more than TWO Public companies, what are the consequences..
Can any body let me know the consequences of violation of sec.316 of Companies Act.
If prior approval of central govt is not obtained for appointment of a person as a MD/manager in more than TWO Public companies, what are the consequences..
07 October 2009
Hi,
Since no penalty is provided by section 316 for violation of its provision, the penalty of section 629A becomes applicable.
Regards
Since no penalty is provided by section 316 for violation of its provision, the penalty of section 629A becomes applicable.
Regards
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