Managing Director

not required as long as authorised/nominal capital of the is not  more than five crores

Under Section 269 of the Companies Act, 1956 every public company or a private company which is a subsidiary of public company having a paidup capital of not less than as may be prescribed(Currently Rs. 5 crore)  shall have a managing or whole time director or a manager.

Yes

As per section 269 of the companies act 1956 every public company and private company which is a subsidiary of public company having paid up capital of not less Rs. 5 crores have a managing or wholetime director.