Case Law Details
Hamlin Trust Vs LSFIO Rose Investments S.a.r.I. (NCLAT)
Section 203 of Companies Act, 2013 states that every listed company and every other public company having a paid-up share capital of ten crore rupees shall have the CFO as whole-time key managerial personnel.
Provided a whole time key managerial personnel shall not hold office in more than one company except in its subsidiary company at the same time.
As per Article of Association of RFPL the right to appoint CFO is with Rose Investments however other 50% of shareholder have the right to reject such candidates.
Provided candidates proposed by the Rose Investments were those individuals who were associated with other entities and were not available full time for RFPL.
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