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of <h1>Definition of Managing Director: Substantial Management Powers Explained Under Section 2(54) of Companies Act 2013</h1> A managing director, as defined by Section 2(54) of the Companies Act 2013, is a director entrusted with substantial management powers of a company's affairs, through the company's articles, an agreement, a resolution at a general meeting, or by the Board of Directors. This role includes any director occupying the position of managing director, regardless of title. Routine administrative powers, such as affixing the company seal, endorsing cheques, or signing share certificates, are not considered substantial management powers.
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