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Experts on Insolvency & Bankruptcy Code
  • Sec 203

    by Chirag on Wednesday, April 10, 2019 at 10:50 AM

    Dear Sir, If a person is appointed as CS in one company and wants to become MD in another company,THEN HE CANNOT BECOME MD IN ANOTHER COMPANY AS PER SEC 203(3) because it states that - A whole-time key managerial personnel shall not hold office in more than one company except in its subsidiary company at the same time. So, holding a position of CS in one company and MD in another company at same time by a person is not allowed. Am i right sir ??

    Replied byV. S. Datey Thursday, April 11, 2019 at 11:03 AM

    u r right V S Datey

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