An indian listed public company has 3 whole time directors. Is it necessary to appoint the CEO of the Company? If not, who can give the CEO/CFO certificate under clause 49 of the listing agreement?
Vijayamahantesh V. Khannur (Company Secretary) (91 Points)
13 December 2010An indian listed public company has 3 whole time directors. Is it necessary to appoint the CEO of the Company? If not, who can give the CEO/CFO certificate under clause 49 of the listing agreement?
Syam kamal
(Company Secretary)
(156 Points)
Replied 13 December 2010
There no mandatory requirement of appointment of CEO in any companies no matter listed or unlisted. In your case the WTD in charge of finance function can give CEO/CFO certificate under clause 49 of the listing agreement.
Jaideep
(Service)
(1368 Points)
Replied 13 December 2010
Dear Vijay,
As per clause Clause 49 of the Listing Agreement, the Company has to designate & appoint Chief Executive Officer i.e. the Managing Director or Manager appointed in terms of the Companies Act, 1956 and a Chief Financial Officer to head the Finance Function which will prvide respective certification.
You can take certification form Managing Director. In case MD is not appointed, compnay has to designate their CEO in Board Meeting among whole time directors for the compliance of clause 49.
Regards
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