Under section 203(3) of the Companies Act, 2013, a whole-time key managerial personnel may not hold office in more than one company at the same time, except in which company?
Question and options
Under section 203(3) of the Companies Act, 2013, a whole-time key managerial personnel may not hold office in more than one company at the same time, except in which company?
Its associate company
Its wholly owned subsidiary only
Its holding company
Its subsidiary company
Answer and explanation
Section 203(3) of the Companies Act, 2013 bars a whole-time key managerial personnel from holding office in more than one company at the same time, except in its subsidiary company. The exception covers any subsidiary, not only a wholly owned one, and does not extend to the holding or an associate company.
Practice for these exams
-
All India Bar Examination (AIBE)
Subject revision
See pack details on LawMint.net -
UGC NET Law
Subject revision
See pack details on LawMint.net -
IIT Kharagpur LL.M. Entrance
Subject revision
See pack details on LawMint.net -
CLAT PG
Subject revision for a passage-based exam
-
CUET PG Law (LL.M.)
Subject revision
-
AILET PG
Subject revision
-
Bihar Judicial Services
Subject revision
Related exam syllabi
More solved explanations in Directors & key managerial personnel
- Which one statement is correct from the following statements ?
- Liability of directors of a public company is towards
- Under the Companies Act, 2013, which of the following is not, by itself, a ground for disqualification for appointment as a director or for vacation of a…
- The articles of a public company are silent on share qualification. X holds a Director Identification Number, is not disqualified and holds no shares in the…
- Which matter does section 203 of the Companies Act, 2013 govern?