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Anita Sethia

82 Points Posted on 24 February 2021

Can a Listed company procced without Executive Director (temporary suspension by board for personal resaon)on Board if yes, than for how much days if no, than what is provision please state in regard to companies act 2013 and LODR 2015.

Please also state case laws if any at earlist as possible.

Replies (2)

Quick Summary

This discussion addresses whether a listed company can operate without an Executive Director if they are temporarily suspended by the board for personal reasons. It clarifies that under the Companies Act 2013, a company can appoint a manager or an additional executive director if a Whole-Time Key Managerial Personnel (KMP) vacancy arises, which must be filled within six months. The LODR 2015 is silent on this specific issue, but SEBI's informal guidance may offer further insights.

pritesh

delhi

464 Points Posted on 02 March 2021

Yes as per companies act. you can appoint manager instead of md and wtd. and board should comprise of non executive director

Chirag

Professional

1149 Points Posted on 07 March 2021

As Per Section 203 ,Company have to fill vacancy within 6 months ( For Whole Time KMP) , anyways LODR is silent on this aspect....Else Board Can Appoint Executive Additional Director... Check Informal Guidenance by SEBI if any .