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Managing Director

Shabana (Student) (42 Points)

03 March 2009

I would like to know whether a Public Limited Company's Board of Directors need to have a managing director

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3 Replies

hemishp (Company Secretary) (32 Points)
Replied 03 March 2009

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

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17858 Points)
Replied 04 March 2009

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.

HARDIK (COMPANY SECRETARY NCFM (Corporate Gover) (664 Points)
Replied 05 March 2009

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.