Prohibition on simultaneous managerial appointments: companies cannot appoint a managing director and a manager at the same time. Section 197A forbids a company from appointing or employing more than one specified category of managerial personnel at the same time, specifically preventing concurrent service as a managing director and a manager; the provision prevails over other laws or agreements and included a transitional six month period, while references to managing agents and certain officeholders were later omitted by amendment.