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Appointment of CFO as CS.
Can CFO of the company be appointed as CS at the same time, by holding two positions, in the same company?
Replies (3)
There is nothing in the law itself that would prevent the same person from holding more than one board seat in a company. However, the guiding principles to answer this question would come from the corporate by-laws which are the “laws of the company.”
I am of the opinion that if sec 203 is applicable on the company then a single person cannot hold both the portfolio at the same time. It is clearly mentioned in sec 203 (read with rules) that a company having paid-up share capital of 10 crore or more shall have a whole time CFO AND CS.
| Originally posted by : Sudipta Chatterjee | ||
 |
I am of the opinion that if sec 203 is applicable on the company then a single person cannot hold both the portfolio at the same time. It is clearly mentioned in sec 203 (read with rules) that a company having paid-up share capital of 10 crore or more shall have a whole time CFO AND CS. |  |
He will be working wholetime in the company and will perform dual responsibilities, then whats the problem?
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