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Change in designation from Director to Managing Director


Hi,

We want to change the designation of Director to Managing Director in a Pvt. Ltd. Company. Can somebody throw light on the procedure.

Thx n regards-

shruti

 
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Manager - Accounts


Appointment of Director as MD/ WTD – file Form 32 as change in Designation

 
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Company Secretary and Compliance Officer

Procedure:


1. As your company is a private company ---you can appoint the director as Managing Director by passing a board resolution.


2. You have to file form 32 with in 30 days of board meeting above under section 303(2).


3. You have to file form 23 with in 30 days of board meeting above under section 192(4)(c).


Kindly revert if there is any doubt.


Best Regards


Total thanks : 1 times

 
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Company Secretary and Compliance Officer

SAMPLE BOARD RESOLUTION


RESOLVED THAT pursuant to the applicable provisions of the Companies Act, 1956 read with article ………. of Article of Association of the company Mr. Vivek Jain who is already a Director of the company be and is hereby appointed as non-rotational Managing Director of the company without any remuneration for a period of 5 years w.e.f. April 01, 2001

 

RESOLVED FURTHER THAT any Director of the company be and is hereby authorized to file the necessary returns with the Registrar of Companies.” 

 
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Company Secretary


Form 25c will not required to file?

 
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Company Secretary & Compliance Officer

Dear Mayur,

 

As such your company is a PRIVATE COMPANY, section 269 would not apply. Therefore, Schecule XIII does not required to be complied with and form 25C would also not be be filed.

 

YOu are only required to file form 23 and 32 within 30 days of Board Resolution.

 
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PRACTICING CS Jalandhar 9914558709

CAN u explain me dear sir k why we are required to file Form 23 in this regard?

 
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Company Secretary and Compliance Officer

Originally posted by : MOHIT SALUJA

CAN u explain me dear sir k why we are required to file Form 23 in this regard?

 

As desired by section 192(4)(c) we have to file form 23 at the time of appointment of of MD irrespective of the status of the company or appointing authority or kind of resolution.

 

Resolution for the appointment of MD is required to be registered with ROC through filing of form 23. Kindly check the list given u/s 192(4).

 

Thanks


Total thanks : 2 times

 
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COMPANY SECRETARY & COMPLIANCE OFFICER

Dear Ankur Sir,

 In one case which I am handling my company  is just now converted into Public Limited Company  and want to change the designation of one of its  Director from Director to Managing Director. Now  what is preferable to change the designation before conversion date or after conversion date?

 

Thanks & Regards

CS Yuti

 
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Company Secretary


Dear Yuti,

 

You can change ANY WAY as per your convenience.

 

 

Thanks

 
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