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    Question

    According to Section 203 of the Companies Act, 2013,

    which of the following is NOT included in the definition of Key Managerial Personnel (KMP)?
    A Managing Director Correct Answer Incorrect Answer
    B Chief Financial Officer (CFO) Correct Answer Incorrect Answer
    C Company Secretary Correct Answer Incorrect Answer
    D Non-Executive Independent Director Correct Answer Incorrect Answer

    Solution

    Under Section 203 read with Section 2(51) of the Companies Act, 2013, Key Managerial Personnel includes: (i) the Chief Executive Officer or Managing Director or Manager; (ii) the Company Secretary; (iii) the Whole-time Director; (iv) the Chief Financial Officer; and (v) such other officer as may be prescribed. A Non-Executive Independent Director is expressly excluded from the definition of KMP, as the role of an Independent Director is supervisory and oversight-based, not executive or managerial.

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