What is the Maximum period for which a person can be appointed as a Managing Director of a Company ? Answer : No company shall, after the commencement of this Act, appoint or employ any individual as its managing director for a term exceeding five years at a time. -> Nothing contained in above shall be deemed to prohibit the reappointment, re-employment, or the extension of the term of office, of any person by further periods not exceeding five years on each occasion: Provided that any such re-appointment, re-employment or extension shall not be sanctioned earlier than two years from the date on which it is to come into force. [SECTION : 317 ]
Posted on: Mon, 05 Aug 2013 11:19:03 +0000
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