can 1 person be managing director of 2 companies?

Yes my dear 1person canbecome director in more then 1 company.

Ya it can be

but only in two companies.

yes it can be but there is formality and some requirement as per sec 316

Dear Friends.

Iam Student of IPCC. I have some Confusion about Study Material Provided By ICAI. I have Studied a Topic on Commercial Paper in Which

Minimumm Maturity Period as Per ICAI is . 7 days to One Year.

I have also Readed RBI Guidelines on Commecial Paper, in that Maturity period is Minimum 15 Days to One Year.

Which Is the Right Answer

Jaikumar Singh

Jaipur, 09001320715

Right answer is 7 Days, this is not the right thread to response for the same check the below link.

Dear Mr Vivek,

You are Right but we cant Ignore RBI Guidelines

Plz Chek In this File in Attachement for Commercial Paper

@ Mr. Jai Kumar,

Ur contention is valid but the attachment is same wht i have earlier attached and that belongs to year 2000 and in supression RBI is issuing every year on 01st july Master Circular which is binding on everyone untill next amendment. Please refer my second attachment which clearly states minimum maturity period for CP is 7 days.

Regards,

Please note the point 2 of the master circular issued on 01.07.2010, which is read as under:-

 Refer:

RBI/2010-11/84

IDMD.DOD.14 /11.08.36/2010-11 July 1, 2010

2. A Master Circular incorporating all the existing guidelines/instructions/ directives on the subject has been prepared. It may be noted that this Master Circular consolidates and updates all the instructions/guidelines contained in the circulars listed in the Appendix, in so far as they relate to ‘guidelines for issue of CP’. This master circular has been placed on RBI website at www.mastercirculars.rbi.org.in.

The very same circular also states at page no.4 :-

4. Maturity

CP can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. The maturity date of the CP should not go beyond the date up to which the credit rating of the issuer is valid.

Regards,

Dear Mr. Vivek

Thanks a Lot for Providing me Details.

Jaikumar Singh

Yes. but subject to unanimous approval of the board. also he can draw salary from both the companies but the limit is highest admissible of the both companies.