TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Clause 203: Companies Must Appoint Key Managers; Dual Roles Limited; Non-Compliance Leads to Fines.</h1> Clause 203 of the Companies Bill, 2011 mandates that certain classes of companies appoint whole-time key managerial personnel, including a managing director, CEO, or manager, and a company secretary. An individual cannot simultaneously be the chairperson and managing director or CEO unless the company's articles allow it. Appointments must be made by board resolution, and personnel cannot hold office in more than one company, except subsidiaries, without board permission. Vacancies must be filled within six months. Non-compliance results in fines for the company and responsible directors or personnel, with penalties increasing for ongoing violations.
TaxTMI 
TaxTMI 
