CA Intermediate · Corporate and Other Laws · Preliminary
Rohan, an Indian resident, is a director of Kaveri Infra Ltd and is also the 'key managerial personnel' of its subsidiary. He asks which of the following persons is, as per the Companies Act, 2013, definitely included in the term 'key managerial personnel'.
The Chief Financial Officer is key managerial personnel under the Companies Act, 2013. The definition lists the CEO, managing director or manager, company secretary, whole-time director and CFO, plus any officer prescribed. Independent directors, internal auditors and branch managers are not automatically covered.
- AChief Financial OfficerCorrect
- BAny independent director
- CInternal auditor
- DAny manager of a branch office
Explanation
Key managerial personnel means the CEO or managing director or manager, the company secretary, the whole-time director, the chief financial officer, and such other officer as may be prescribed. An independent director, internal auditor or branch manager is not included merely by that status.
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