Is chedule xiii is apllicable for pvt co. and Pub.co. both?
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Schedule xiii
Replies (1)
Sec. 269 (2) On and from the commencement of the Companies (Amendment) Act, 1988, no appointment of a person as a managing or whole-time director or a manager in a public company or a private company which is a subsidiary of a public company shall be made except with the approval of the Central Government unless such appointment is made in accordance with the conditions specified in Parts I and II of Schedule XIII (the said Parts being subject to the provisions of Part III of that Schedule) and a return in the prescribed form is filed within ninety days from the date of such appointment.
From this we can say that schedule 13 is applicable only to a public company or a private company which is a subsidiary of a public company.
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