22 November 2014
our company is a public limitd company(PSC>10crore) & NBFC We have 5 directors at present out of 5 one is MD 3 are whole time director for a period of Five years and 1 Additional Director(executive). All are drawing renumeration. Now since Add. Director can not draw remuneration without shareholder approval therefore we want to appoint him as WTD.
Can we appoint him as WTD since in that case all director will become executive and non-rotational director and in that case who will retire by rotation in next AGM.if yes what is the procedure for the appointment since we have already file DIR-12 for his appointment as Add. Director (executive)
CAclubindia
