Working with CA firm
117 Points
Joined February 2013
Dear Sunil
As per section 203 (3) "A whole-time key managerial personnel shall not hold office in more than one company except in its subsidiary company at the same time:
Provided that nothing contained in this sub-section shall disentitle a key managerial personnel from being a director of any company with the permission of the Board:"
Companies act impose the restriction on holding the office in other company and not in the same company.
Also a whole time KMP can be an additional director of any company (including the Company in which he is a KMP) with the permision of board