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CS Executive · Company Law and Practice · Key Managerial Personnel and their Remuneration

Sagar Pharma Ltd's register under Section 170 is being reviewed by its secretarial team. Which of the following correctly describes who must be covered by the return filed with the Registrar under Section 170(2)?

The return covers every director and every key managerial personnel. Section 170(2) requires filing with the Registrar within thirty days of each appointment and within thirty days of any change, regardless of whether the person holds shares or holds a particular office.

  1. AEvery director and every key managerial personnel, on appointment and on any changeCorrect
  2. BOnly the managing director and the company secretary
  3. COnly directors, since KMP are covered under Section 203 alone
  4. DOnly those directors who hold shares in the company

Explanation

Section 170(2) refers to the return of the directors and the key managerial personnel, to be filed within thirty days of each appointment and of any change. It is not limited to the managing director, company secretary or shareholding directors.

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