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Appointment of key managerial personnel

Section 203 - Acts - APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL - Companies Act, 2013 - Section 203 - 203. (1) Every company belonging to such class or classes of companies as may be prescribed shall have the following whole-time key manage .....

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s the chairperson of the company, in pursuance of the articles of the company, as well as the managing director or Chief Executive Officer of the company at the same time after the date of commencement of this Act unless,- (a) the articles of such a .....

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hief Executive Officers for each such business as may be notified by the Central Government. (2) Every whole-time key managerial personnel of a company shall be appointed by means of a resolution of the Board containing the terms and conditions of th .....

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a key managerial personnel from being a director of any company with the permission of the Board: Provided further that whole-time key managerial personnel holding office in more than one company at the same time on the date of commencement of this .....

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if he is the managing director or manager of one, and of not more than one, other company and such appointment or employment is made or approved by a resolution passed at a meeting of the Board with the consent of all the directors present at the me .....

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p by the Board at a meeting of the Board within a period of six months from the date of such vacancy. 1[(5) If any company makes any default in complying with the provisions of this section, such company shall be liable to a penalty of five lakh rupe .....

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