17. F&l Limited, a listed company under the Companies Act, 2013 has Mr. Abhishek as Chief Financial Officer of the Company. Mr. Abhishek has been in full time employment at F&I Ltd.. Now Mr. Abhishek has been offered to be a Whole Time Director at M&N Limited, in which more than 51% of the paid up share capital is held by F&I Limited". Mr. Abhishek seeks your advice whether he can proceed with the offer of Whole Time Director considering the provisions of the Companies Act, 2013.

(a) Mr. Abhishek may proceed with the offer of Whole Time Director at M&N Ltd., as Key Managerial personnel shall not be is entitled from being a Whole Time Director in any company after obtaining the permission of Board of Directors of F&l Company.

(b) Mr. Abhishek shall not be able to proceed with the offer of Whole Time Director at M&N Ltd., as a whole-time Key Managerial Personnel shall not hold office in more than one company at the same time.

(c) Mr. Abhishek may proceed with offer of Whole Time Director at M&N Company, as that company is a subsidiary of F&l Company.

(d) Mr. Abhishek shall not be able to proceed with the offer of Whole Time Director at M&N Ltd., as a whole time Key Managerial Personnel shall not hold office in more than one company at the same time including its subsidiary company.



















Ans: (c) Mr. Abhishek may proceed with offer of Whole Time Director at M&N Company, as that company is a subsidiary of F&l Company.

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