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Experts on Insolvency & Bankruptcy Code
  • Whole Time KMP

    by Chirag on Tuesday, June 04, 2019 at 06:43 PM

    Dear Sir, As per Sec 203, A person can be appointed as Whole Time KMP in one company only. However he can be appointed as Whole time KMP in subsidiary company also. Query- Can a person who is MD of a subsidiary company be appointed as MD of Holding company ?? 2) Whether unanimous resolution is required for this ?? 3) If yes, whether unanimous resolution will be passed in holding company or in subsidiary company's GENERAL MEETING ??

    Replied byV. S. Datey Wednesday, June 05, 2019 at 09:49 AM

    1. it comes to same thing - then why not? 2. yes 3. Unanimous resolution requirement only in Board meeting and not AGM V S Datey

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