My company is faced with a peculiar issue.
One of the senior management professionals who was appointed last year has decided to resign from the company to pursue his personal venture.
However, his line of business is similar to that of my company and what is more shocking is that this senior person has concealed the fact that he is still a Managing Director in company where he has shown himself to be a senior management employee.
As per the ROC website, he is still the MD of the company but to us and his linkedin profile show that he is no longer associated with the given company.
Our appointment letter clearly states that there can be no concurrent employment and this person by being a MD in company while being employed with my company has flouted the clause of his appointment letter.
I would also like to know from my esteemed colleagues that as per Companies Act 2013 can the MD of a company while still being a MD of that company be a full time salaried employee of another company which has no association whatsoever with the company in which he is a MD.
Also does this constitute forgery and cheating?
One of the senior management professionals who was appointed last year has decided to resign from the company to pursue his personal venture.
However, his line of business is similar to that of my company and what is more shocking is that this senior person has concealed the fact that he is still a Managing Director in company where he has shown himself to be a senior management employee.
As per the ROC website, he is still the MD of the company but to us and his linkedin profile show that he is no longer associated with the given company.
Our appointment letter clearly states that there can be no concurrent employment and this person by being a MD in company while being employed with my company has flouted the clause of his appointment letter.
I would also like to know from my esteemed colleagues that as per Companies Act 2013 can the MD of a company while still being a MD of that company be a full time salaried employee of another company which has no association whatsoever with the company in which he is a MD.
Also does this constitute forgery and cheating?