Question

A whole time KMP which includes Company Secretary shall not hold office in__.

• A. more than one company except in its subsidiary company at the same time
• B. more than two companies and in its subsidiary company at the same time
• C. more than one company except in its associate company at the same time
• D. more than one company except in related company at the same time

Answer 1

The correct option is A more than one company except in its subsidiary company at the same time

Key managerial personnel‖, in relation to a company, means—

(i) the Chief Executive Officer or the managing director or the manager;

(ii) the company secretary;

(iii) the whole-time director;

(iv) the Chief Financial Officer; and

(v) such other officer as may be prescribed;

Under section 203 of the act, the key managerial personnel shall not hold office in more than one company except in its subsidiary company at the same time