As per the provisions of Companies Act, 2013, Can a KMP hold office in two companies ?
CS Professional · Advanced Company Law and Practice · PYQS · June 2021
As per the provisions of Companies Act, 2013, Can a KMP hold office in two companies ?
Answer & Explanation:
Section 203(3) of the Companies Act, 2013, provides that a whole-time Key Managerial Personnel is to be appointed by the Board and shall not hold office in more than one company except in its subsidiary company at the same time. However a key managerial personnel is permitted to be appointed as a Director of any other company with the permission of the Board.
Topics: Key Managerial Personnel
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