MANAGING DIRECTOR
|
DIRECTOR
|
Meaning
He is a full time director looking after the day
to day management of the company.
Appointment
He is appointed on the board of directors by
shareholders and than the board of directors appoints him as a managing
director.
Number of Directorship
Normally, no person can be appointed as a managing
director if he is either a managing director or director of any other
company.
Period of appointments
He is appointed for a period of 5 years and he is
not subject to retirement by rotation.
Permission of Central
Government
Permission of central government is required for a
person to be appointed as Managing Director of more than 2 Companies.
|
Meaning
A Director need not be a full time Director. He
can take part in the meeting of the board meeting.
Appointment
A director is elected by the shareholders by
passing a resolution at annual general meeting.
Number of Directorship
No person shall hold a office of director in more
than 20 Public limited companies.
Period of appointments
Normally a director (other than a Permanent
Director) he is appointed for a period 3 years and he is subject to rotation.
Permission of central
government
Permission of central government is not required
for a person to be appointed as Director of more than 2 companies.
|