27 March 2015
There are two ways of appointing Director.Either appoint him as a 1). Director in Extra Ordinary General Meeting or 2). Additional Director in Board Meeting then regularise in General Meeting.
BUT WHAT TO DO IF DIRECTOR IS APPOINTED AS MD OR INDEPENDENT DIRECTOR IN BOARD MEETING ? CAN THESE DIRECTORS ALSO NEED TO BE REGULARIZED OR WHAT TO DO NOW ?
30 March 2015
Section 196(4) of the Companies Act, 2013 provides that subject to the provisions of section 197 and Schedule V, a managing director, whole-time director or manager shall be appointed and the terms and conditions of such appointment and remuneration payable be approved by the Board of Directors at a meeting which shall be subject to approval by a resolution at the next general meeting of the company
Appointment of independent director shall first be considered in the meeting of the Board of Directors and later on approved by the company by way of ordinary resolution in general meeting as per Section 152(2).
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