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    Question

    No company shall appoint or re-appoint any person as its

    managing director, whole-time director or manager for__________________
    A A term exceeding five years at a time Correct Answer Incorrect Answer
    B A term exceeding two years at a time Correct Answer Incorrect Answer
    C A term exceeding fifteen years at a time Correct Answer Incorrect Answer
    D A term as may be prescribed for the same Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Section 196. Appointment of managing director, whole-time director or manager- (2) No company shall appoint or re-appoint any person as its managing director, whole-time director or manager for a term exceeding five years at a time: Provided that no re-appointment shall be made earlier than one year before the expiry of his term.

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