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Schedule v of companies act, 2013

Co Act 2013 480 views 1 replies

priyanka manawat

service

138 Points Joined February 2009

Dear all

Greetings of the day.

My question is :

SEBI imposed a fine of Rs. 25000 in the year 2010 on our Company and our Managing Director for non-compliance of Insider Trading Disclosures.

Can we re-appoint our Managing Director this year if he was imposed a fine in the year 2010 by SEBI. Kindly guide on how to comply with Part I of Schedule V in this case

Replies (1)

P C Agrawal

Registered independent director Past Ch

8229 Points Joined March 2007

MD is disqualified if he is convicted of an offence under specified Acts including SEBI Act. Conviction refers to judgement of a judge. Hence you have to check the order to see whether he was convicted or not.