Section 197A - Company not to appoint or employ certain different categories of managerial personnel at the same time. - Companies Act, 1956

[1] [Prohibition of simultaneous appointment of different categories of managerial personnel Company not to appoint or employ certain different categories of managerial personnel at the same time. 197A. Notwithstanding anything contained in this Act or any other law or any agreement or instrument, no company shall, after the commencement of the Companies (Amendment) Act, 1960 (65 of 1960), appoint or employ at the same time, or after the expiry of six months from such commencement, continue the appointment or employment at the same time, of more than one of the following categories of managerial personnel, namely: (a) managing director, [2] [(b) * * *] [3] [(c) * * *] and (d) manager.] --------------------------------------- Notes:- [1] Inserted by the Companies Act, 1960, Act 65 of 1960, section 54. [2] Omitted by the Companies (Amendment) Act, 2000, 13-12-2000. as provisions relating to managing agents, etc. had become redundant after abolition of system by Act 17 of 1969. [ Prior to their omission, clause (b) and (c) read as under: (b) managing agents, (c) secretaries and treasures . [3] Omitted by the Companies (Amendment) Act, 2000, 13-12-2000. as provisions relating to managing agents, etc. had become redundant after abolition of system by Act 17 of 1969.[Prior to their omission, clause (b) and (c) read as under: (b) managing agents, (c) secretaries and treasures .