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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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