Chief Executive Officer

First of all the composition of your board is not in accordance with clause 49 of the listing agreement:-

Where the Chairman of the BOard is a executive director atleast half of the Board should comprise of independent director.

Secondly, you have also to appoint 1 more director, as it is a public company and there must be atleast 3 directors.

You can redesignate any of the whole time director / managing director as CEO. Basicly MD is termed as CEO of the company and finance director as CFO.

There is no need for any acting CEO, when you appoint then this requirement can be fulfilled. Just ensure for the appointment before the annual results get approved in the Board Meeting.