Who can be appointed as MD of a Private Company?

Upto my understanding;

1. The said Gentelman is not personally liable for the acts done.

2. He can not be treated as "De facto" Managing Director.

3. He can be held liable for the acts done by him under the Contract Act (he is the agent of the company).

I don't think that he is covered under Section 5 of the Companies Act, 1956.

Others views solicited.

Regards,

Any person can function or use the designation of an MD only after being appointed as such by resolution in Meeting. 

Pls find attached checklist for appointment of a MD

Thanks for your quick replies. I would like to know whether the appointment checklist provided is applicable for a private Company

Hey!

Sec 269 and the Schedule XIII does not apply to pvt. co. so in your case(In Pvt. Co.) only form 23 and form 32 is sufficient.

Dear Friend,

As per your query, such person is appointed as head of the office not head of the company. He can not be treated “as de facto” Managing Director.

If a company wanted to appoint a person as MD of the Company nor for office, the pre condition is he should be director of the company.

In your case, the provisions of appointment of MD will not apply.

Regards

CS Ajay Mishra

hi...the person appointed as head of the office cannot be called as MD of the company..you can call him as office incharge or Branch manager.and not MD.