Companies act 2013

(Querist) 20 December 2014 This query is : Resolved
As per the Companies Act 2013, I want to know whether an individual can be appointed as a WHOLETIME DIRECTOR of two Private Limited Companies.

Which section of Companies Act 2013, is applicable in this regard.

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Kuummaar AS (Expert) 20 December 2014
No, an individual can not be appointed as a WHOLETIME DIRECTOR in two Private Limited Companies.

Advocate. Arunagiri (Expert) 20 December 2014
Yes, an individual can be appointed as the whole time director of Two Private limited companies.

Section 203 (3) of the Indian Companies Act 2013 is not applicable to the private limited companies.

Not only that many sections are not applicable to Pvt Ltd companies.

Kuummaar AS (Expert) 21 December 2014
As per Section 2(94) of Companies Act, 2013 “whole-time director” includes a director in the whole-time employment of the company.

As per Section 203 (1) of Companies Act, 2013, a whole-time director will be key managerial personnel in the absence of M.D. or CEO or Manager. Further, as per sub-section (3), KMP ( which means Whole-time Director, if he is KMP) shall not hold office in more than one company except in its subsidiary company at the same time. The querist has not mentioned that the two companies are Holding and subsidiary companies

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