This document discusses the role and responsibilities of a Managing Director (MD). It defines an MD as the highest executive in the company who is responsible for the overall functioning and day-to-day operations. The MD acts as a bridge between the Board of Directors and management of the company. He is responsible for implementing strategies and policies approved by the Board. The document outlines the appointment process of an MD which requires Board approval and shareholder consent. It also discusses the remuneration, holding period and disqualifications for the role of a Managing Director.