Is it mandatory under the companies Act that the MD of a Pvt Ltd company should hold 51% of the share capital.
Kindly clarify
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Shareholding of MD
Replies (4)
Dear Mr. Madhukar
It is not mandatory for tne managing Director to hold share capital of the company.
Regards
| Originally posted by :Madhukar | ||
| " | Is it mandatory under the companies Act that the MD of a Pvt Ltd company should hold 51% of the share capital. Kindly clarify |
" |
There is no provision of shareholding by MD on mandatory basis.
but if AOA specify then director have to hold Qulification share on compulsory basis.
hope tht will be helpful for u
Dear Madhukar,
It is not necessary for the MD to hold any share in the Company.
However, if the Articles specify then he has to compulsarily hold Qualification Shares. But not 51% Shareholding of the Company.
Agree with learned members.
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