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Whole Time Director

Ankur Garg (Company Secretary and Compliance Officer)   (114659 Points)

18 March 2009  

Dear Friends,

Please advise. Can a person be appointed as WTD of more than 1 company. Also mention if there is any source or DCA clarification etc. 

As per my opinion a person may be appointed as a Whole Time Director in more than 1 company especially under the same group companies.

Regarding WTD there is no specific provision like sec. 316(MD) or 386(Manager) to regulate the appointment of WTD. As far as section 269, 302 and schedule XIII are concerned they don't talk about no. of assignments as WTD.

Thanks in advance. Regards

 


 3 Replies

HARDIK (COMPANY SECRETARY NCFM (Corporate Governance ))   (664 Points)
Replied 18 March 2009

hi

A person cannot be appointed as wtd in more than 1 company at a time.

However a md can be appointed in more than 1 company at a time.

 

CA jayalakshmi (Associate consultant) (232 Points)
Replied 18 March 2009

Whole time director includes a director in whole time employment of the company.So a WTD should not be WTD in more than one company at a time.

Ankur Garg (Company Secretary and Compliance Officer)   (114659 Points)
Replied 18 March 2009

Thanks Hardik & Jaya for your valuable advise.

Regards


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