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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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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) (17848 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 Governance )) (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.