Managing director not to be appointed for more than five years at a time.

Managing director not to be appointed for more than five years at a time. https://www.taxtmi.com/acts?id=12658 The Companies Act limits appointment of a managing director to terms not exceeding five years; incumbents at commencement vacate office at five years from commencement unless their term ended earlier. Re-appointment or extension is permitted in successive periods not exceeding five years, subject to a prohibition on sanctioning renewals earlier than two years before they commence. The term limit does not apply to private companies except where the private company is a subsidiary of a public company. en-us Fri, 13 May 2011 18:32:15 +0530 Fri, 13 May 2011 18:32:15 +0530 TaxTMI RSS Generator Managing director not to be appointed for more than five years at a time. https://www.taxtmi.com/acts?id=12658 The Companies Act limits appointment of a managing director to terms not exceeding five years; incumbents at commencement vacate office at five years from commencement unless their term ended earlier. Re-appointment or extension is permitted in successive periods not exceeding five years, subject to a prohibition on sanctioning renewals earlier than two years before they commence. The term limit does not apply to private companies except where the private company is a subsidiary of a public company. Act-Rules Companies Law Fri, 13 May 2011 18:32:15 +0530 https://www.taxtmi.com/acts?id=12658