Managing Directors in a Corporate Company

Managing Directors ..

This term occupies the most precious and exclusive position in the corporate sectors. For every company in the corporate sector he is a careful and responsible person. So that, Every company take necessary and extracare to choose a right person as a Managing Director for the development of their company.

As envisaged in the Companies Act, 1956,,,.

Sections

267 : Certain persons not to be appointed managing directors.

268 : Amendment of provision relating to managing, whole time or non-rotational directors to require Government approval.

269 : Appointment of managing or whole-time director or manager to require Government approval only in certain cases.


Restrictions on Appointment of M.D.

315 : Omitted

316 : Number of companies of which one person may be appointed managing director.

317 : Managing Director not to be appointed for more than five years at a time.

and

Schedule - XIII : Conditions to be fulfilled for the Appointment of a....

Managing or
Whole-Time- Director or a
Manager

--- without the prior approval of the Central government.


clearly have a mention about the appointments and removals of a person as Managing Director for the Company.

to be continued in thenext article. .....