Which schedule to the Companies Act, 2013 sets the conditions for appointing a managing director without Central Government approval?
Question and options
Which schedule to the Companies Act, 2013 sets the conditions for appointing a managing director without Central Government approval?
Schedule II
Schedule V
Schedule I
Schedule IV
Answer and explanation
Part I of Schedule V to the Companies Act, 2013, read with section 196(4), sets the conditions under which a managing director, whole-time director or manager can be appointed without Central Government approval. Schedule IV is the code for independent directors, Schedule II deals with useful lives for depreciation, and Schedule I contains the model memorandum and articles.
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