TMI BlogMANAGEMENT AND CONTROL OF COMPANIES III MANAGING DIRECTOR, WHOLE-TIME DIRECTOR AND MANAGERX X X X Extracts X X X X X X X X Extracts X X X X ..... ompany or of a resolution passed by the company in general meeting or by its Board of directors or, by virtue of its memorandum or articles of association, is entrusted with any powers of management which would not otherwise be exercisable by him, and includes a director occupying the position of a managing director, by whatever name called Section 02(26) If a company wants to appoint a pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of activities of the various divisions and department of Company. Liability Liable for any breach, whether willful or unintentional, of any duties and powers entrusted to him under the terms and conditions of his appointment. 2. WHOLE- TIME DIRECTOR/ EXECUTIVE DIRECTOR Whole time Director is virtually Managing Director The terms whole- time director and executive directors are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eration by way of fee for each meeting of the Board of directors or a committee thereof, shall be as under: Companies with a paid-up share capital and free reserves of Rs. 10 crore and above or turnover of Rs. 50 crore and above the Sitting fees not to exceed the sum of twenty thousand rupees. Whereas for Other companies Sitting fees not to exceed the sum of ten thousand rupees 3. MANAGER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nies of which a person may be appointed manager Section 386 No company shall appoint or employ any person as manager, if he is either the manager or the managing director of any other company, except if he is the manager or managing director of one, and not more than one, other company. Compensation for loss of office not permissible except to managing or whole-time directors or to d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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