can a person be managing director in more than two private limited companies under companies act 2013?
CS Mitesh Mehta
(Company Secretary)
(17139 Points)
Replied 18 October 2014
No.
A company may appoint or employ a person as its managing director, if he is the managing director or manager of one, and of not more than one, other company- Provisio to Section 203 (3) of the Companies act 2013
anonymous
(proprietor)
(237 Points)
Replied 18 October 2014
is clause 203(3) applicable to private companies as section 203(1) is not? are the two sub sections independent of each other?
CS Mitesh Mehta
(Company Secretary)
(17139 Points)
Replied 18 October 2014
Appointment of KMP is not mandatory for private company. However, if pvt company is appointing KMP, they have to comply with the regulations.
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