https://www.taxtmi.com/acts?id=12657 Restriction prohibits a person from serving as managing director or manager of more than one company when either company is a public company or a private subsidiary of a public company; an appointment in one additional company is permitted if unanimously approved at a board meeting with specific prior notice. Transitional rules allow existing multiple officeholders to elect to continue in not more than two companies, subject to procedural provisions, and the Central Government may authorize more than two appointments where companies operate as a single functional unit. en-us Fri, 13 May 2011 18:30:16 +0530 Fri, 13 May 2011 18:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12657 Restriction prohibits a person from serving as managing director or manager of more than one company when either company is a public company or a private subsidiary of a public company; an appointment in one additional company is permitted if unanimously approved at a board meeting with specific prior notice. Transitional rules allow existing multiple officeholders to elect to continue in not more than two companies, subject to procedural provisions, and the Central Government may authorize more than two appointments where companies operate as a single functional unit. Act-Rules Companies Law Fri, 13 May 2011 18:30:16 +0530 https://www.taxtmi.com/acts?id=12657