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of <h1>Private to Public Company Conversion: Managing Director Can Stay if Remuneration Complies with Sections 309 and 198.</h1> When a private company converts into a public company or becomes a deemed public company, the existing managing director can continue their role without needing Central Government permission if their remuneration complies with sections 309 and 198. However, upon conversion, sections 268 and 317 apply, necessitating Central Government approval for any changes to the terms of appointment or re-appointment under section 269(2). Approval is also required for the payment of minimum remuneration under section 198(4).
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