https://www.taxtmi.com/acts?id=15638 Companies of prescribed classes must appoint specified whole-time key managerial personnel-a managing director/CEO/manager (or whole-time director in absence) and a company secretary-by Board resolution stating terms including remuneration. Whole-time KMPs cannot hold such office in more than one company except in a subsidiary; those holding multiple offices at commencement must choose one within six months. Boards must fill vacancies within six months. Limited exceptions allow dual appointment with specific notice and unanimous director consent. Contraventions attract statutory fines on the company and defaulting officers, with additional daily penalties for continued breaches. en-us Thu, 22 Dec 2011 11:56:53 +0530 Thu, 22 Dec 2011 11:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15638 Companies of prescribed classes must appoint specified whole-time key managerial personnel-a managing director/CEO/manager (or whole-time director in absence) and a company secretary-by Board resolution stating terms including remuneration. Whole-time KMPs cannot hold such office in more than one company except in a subsidiary; those holding multiple offices at commencement must choose one within six months. Boards must fill vacancies within six months. Limited exceptions allow dual appointment with specific notice and unanimous director consent. Contraventions attract statutory fines on the company and defaulting officers, with additional daily penalties for continued breaches. Act-Rules Bills Thu, 22 Dec 2011 11:56:53 +0530 https://www.taxtmi.com/acts?id=15638