Question

No company shall appoint or continue the employment of any person as a managing director, whole time director or manager, who is __________.

• A. below the age of 21 years or has attained the age of 65 years
• B. below the age of 25 years or has attained the age of 70 years
• C. below the age of 20 years or has attained the age of 68 years
• D. below the age of 21 years or has attained the age of 70 years

Answer 1

The correct option is D below the age of 21 years or has attained the age of 70 years

Section 196 of the Companies Act, 2013 provides for the appointment of Managing Director, Whole time Director or manager. It has set the age limits for the appointment of Managing director, whole time director or manager.

No company shall appoint or continue the employment of any person as managing director, whole-time director or manager who is below the age of twenty-one years or has attained the age of seventy years, provided that appointment of a person who has attained the age of seventy years may be made by passing a special resolution in which case the explanatory statement annexed to the notice for such motion shall indicate the justification for appointing such person;