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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
N. K. Gupta posted an Question
July 07, 2021 • 00:56 am
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30 points
30 points
- UGC NET
- Commerce
What is the time period of key managerial personnel and directors
what is the time period of key managerial personnel and directors
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Rucha rajesh shingvekar Best Answer
If during the course of business, any Key Managerial Personnel resign from a company, the Company shall be filled up by the board at a meeting of the Board within a period of six (6) months from the date of such vacancy.
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jow many time after company change their director and kmp . like 3 year or 5year
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Srichandan swain
As per Section 198 of the Companies Act, 2013, a company can appoint following Key Managerial Personnel for term of maximum five (5) years: – a) Managing Director b) Whole Time Director c) Manager Also note that their re-appointment shall not be made earlier than one (1) year from the expiry of their term. There is no term limit in case of appointment of Company Secretary, Chief executive Officer, Chief Financial Officer. Hence, they continue to be appointed in their office for “n” number of years as per the terms and clauses in their appointment contracts.