Section 203 of CA 2013 : Section 203: Appointment Of Key Managerial Personnel
CA 2013
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Explanation using Example
Imagine a medium-sized tech company, "InnovateX", which falls under the class of companies required to have whole-time key managerial personnel (KMP) as per Section 203 of the Companies Act, 2013. The company has a Managing Director (MD), a Company Secretary (CS), and a Chief Financial Officer (CFO) as its KMPs.
Recently, the MD of InnovateX resigned, leaving the position vacant. According to Section 203(4), the Board of Directors must fill this vacancy within six months. They...
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