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Can one person appointment director and cfo in one company

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Hi.. as Mr. X was appointed as CFO on 20th February 2016, after that board decided to appoint Mr. X as Director of the company on 20th February 2016. relating CFO appointment DIR-12 was filed with in 30 days, now DIR-12 for appointment of Director is filing with late fees.. is this process is good.. what is the effect in MCA 21 on company signatory details effect as same person appointing as Director and CFO.. Please clarify
Replies (4)

For CFO appointment as KMP is only compulsory for the following companies (Sec 203)

1. All Listed companies

2. All Unlisted Public Companies having paid up share capital of Rs. 10 crore and above

If your company falls into any of the above category only CFO appointment is compulsory and it must be intimated to ROC in form MR-1. For other class of companies it is the discretion of the board to appoint CFO. 

Now regarding your query MCA21 Signatory Details will list only any of the following types of designation;-

1. Manager

2. Managing Director

3. Whole Time Director

4. CEO

5. CFO

6. Company Secretary

7. Director

8. Additional Director

9. Alternate Director

10. Nominee Director

11. Director appointed in casual vacancy.

If a person is appointed is appointed as CFO and Director. MCA Signatory details will show either CFO or as Director.

 

Regards,

Arjun Rajagopal

 

 

 

Dear Rakesh,

If your company is private limited company or the companies not mentioned above you can appoint one person in 2 positions.

and @ Rajagopal of you appoint one guy as both CFO abd Director MCA will show the both the designations.

thank you sir... as our company is public limited company and in signatory details Mr X name showes as CFO and we decided to appoinment him as Director wiothout changing the designation, so can in signatory details show twice Mr X name as CFO and Director. 

Originally posted by : Rakesh
thank you sir... as our company is public limited company and in signatory details Mr X name showes as CFO and we decided to appoinment him as Director wiothout changing the designation, so can in signatory details show twice Mr X name as CFO and Director. 

I agree with Ram Kumar. MCA signatory details will show CFO and Director as designation provided you file MR-1 and DIR-12 . Pls ignore my earlier post. 

Regards,

Arjun Rajagopal


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