Managing Directors Can Continue After Turning 70 If Initially Appointed u/s 196(3) of Companies Act, 2013.

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Full Text of the Document

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....Section 196(3) of Companies Act, 2013 does not interrupt appointment of Managing Director where at date of such appointment or re-appointment Managing Director was below age of 70 years but crossed that age during his tenure – Word 'continue', therefore, must be read contextually - HC....