Dear Vinay ji,
May I know under which provision the ED cannot be an employee elsewhere? To my knowledge, there is no such provision. I may be wrong. According to me, the ED is a whole-time director, and by virtue of his nature of responsibility, he cannot be employed elsewhere. Please correct me if I am wrong.
Thank you very much for your attachment supporting my comments. In fact, company law is not my subject, which I repeat here.
The right and specific answer to the querist would be: It is possible that a person who is an employee of an organization can be one of the Directors of a sister concern (a wing) of the same company at the same time, but not a whole-time Director or Managing Director.
From India, Mumbai
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2636May I know under which provision the ED cannot be an employee elsewhere? To my knowledge, there is no such provision. I may be wrong. According to me, the ED is a whole-time director, and by virtue of his nature of responsibility, he cannot be employed elsewhere. Please correct me if I am wrong.
Thank you very much for your attachment supporting my comments. In fact, company law is not my subject, which I repeat here.
The right and specific answer to the querist would be: It is possible that a person who is an employee of an organization can be one of the Directors of a sister concern (a wing) of the same company at the same time, but not a whole-time Director or Managing Director.
From India, Mumbai
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Dear friends, Some more notes on this issue is attached for your information.
From India, Bangalore
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From India, Bangalore
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Dear All,
We, a group of 33 people, joined the Govt. Transport Corporation by accepting the offer letter on 28.08.2011 and later signed the appointment letter on 12.10.2011 on a purely contractual basis with specific terms and conditions.
Upon joining, we were not required to sign any contract agreement on judicial E-stamp paper; it remained as an oral agreement for two and a half years.
Recently, the management has requested all of us, the contractual employees, to provide a contract agreement on Judicial E-stamp paper worth Rs. 50. The concerning issue is that the terms of the contract have been altered from the original terms stated in the offer and appointment letters. This change is unfavorable to us. In protest, all of us have declined to sign this modified contract agreement and have filed a case in the Central Administrative Tribunal.
In this situation, I would like clarification on the following points:
1. What is our job status since there is no formal contract agreement signed between us and the Corporation?
2. Are we bound by the rules and regulations of the Corporation in the absence of any formal contract agreement?
3. If one of us received a chargesheet a few months ago, is that chargesheet valid in the absence of a formal contract agreement?
4. If one of us secures a better job opportunity elsewhere, should they resign from this position properly?
5. In a specific case, one of us resigned by serving the notice period correctly, but the management did not accept the resignation. What should be the next step in this situation?
I kindly request your response to these questions as we are all at the early stages of our careers.
From India, Delhi
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We, a group of 33 people, joined the Govt. Transport Corporation by accepting the offer letter on 28.08.2011 and later signed the appointment letter on 12.10.2011 on a purely contractual basis with specific terms and conditions.
Upon joining, we were not required to sign any contract agreement on judicial E-stamp paper; it remained as an oral agreement for two and a half years.
Recently, the management has requested all of us, the contractual employees, to provide a contract agreement on Judicial E-stamp paper worth Rs. 50. The concerning issue is that the terms of the contract have been altered from the original terms stated in the offer and appointment letters. This change is unfavorable to us. In protest, all of us have declined to sign this modified contract agreement and have filed a case in the Central Administrative Tribunal.
In this situation, I would like clarification on the following points:
1. What is our job status since there is no formal contract agreement signed between us and the Corporation?
2. Are we bound by the rules and regulations of the Corporation in the absence of any formal contract agreement?
3. If one of us received a chargesheet a few months ago, is that chargesheet valid in the absence of a formal contract agreement?
4. If one of us secures a better job opportunity elsewhere, should they resign from this position properly?
5. In a specific case, one of us resigned by serving the notice period correctly, but the management did not accept the resignation. What should be the next step in this situation?
I kindly request your response to these questions as we are all at the early stages of our careers.
From India, Delhi
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Enforcement of negative covenants in employment terms.pdf