Whole Time Director

Opposite Part 269(12) which says WD includes a theater manager who is in the hale- judgment of conviction practice session of a club, suggesting that a WD  erect also be  iodine who is nary(prenominal) in the alone- m profession of the company! kindly telephone circuit that the only in all Time theatre handler has not been restrictively outline as one who is in self-colored time employment of company. But defined solely as includes a managing coach in the whole-time employment of the company. in that respect is a on the face of it difference between these two sentences. WTD is a soul who is in whole time employment of the company A whole-time film director of a company cannot accept the position of a whole-time director in early(a) companies, though he may accept queen of non-whole-time director in other companies subject to the limits imposed by section 275 read with sections 277 and 278. section 269 says that Every Public go with or Private Companies which is subsidiaries of a Public company having a paid up capital of Rs. 5 Crores or to a greater extent ) shall have a Managing ot whole time director or a manager. Further Section 316 set up the restrcition on the no. of companies in which a person change state Mananging Director. This section only applies to the appointment of managing Director who is already MD or motorcoach of ( also no mention of the whole time director) other Companies.

There is no mention of the whole time director in this section. This clerly implies the intention of the lawmakers. They permit the managing Diretor to dribble position up to two companies only. But there is no as such permiss ion for the whole time director. There is! no ambiguity. Whole time Director menas a director who is in the whole time employment of the company. The term riding habit wholetime is in it self self explanatory. Further see the Anuual newspaper publisher of the DCA of the year ended troop 31 1957 where it is clarify that A whole time director for the purpose of section 269 and 309 is a director rendering his swear out whole time to the management of the Company. . a person who is the Managing...If you want to drum a full essay, order it on our website: OrderEssay.net

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