https://www.taxtmi.com/acts?id=12763 Section 386 prohibits appointing a person as manager if he is manager or managing director of another company, subject to an exception permitting appointment where he is manager or managing director of one other company provided the Board passes a resolution with consent of all directors present and specific notice of the meeting and proposed resolution was given to all directors then in India. The section also permits the Central Government to authorize a person to be manager of more than two companies where companies must function as a single unit. en-us Mon, 16 May 2011 14:28:45 +0530 Mon, 16 May 2011 14:28:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12763 Section 386 prohibits appointing a person as manager if he is manager or managing director of another company, subject to an exception permitting appointment where he is manager or managing director of one other company provided the Board passes a resolution with consent of all directors present and specific notice of the meeting and proposed resolution was given to all directors then in India. The section also permits the Central Government to authorize a person to be manager of more than two companies where companies must function as a single unit. Act-Rules Companies Law Mon, 16 May 2011 14:28:45 +0530 https://www.taxtmi.com/acts?id=12763