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Discussion > Corporate Law > Pvt ltd >

Change in designation from Director to Managing Director

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CS

[ Scorecard : 253]
Posted On 06 May 2010 at 14:34 Report Abuse

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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Ankit CA & CS
Manager - Accounts

[ Scorecard : 189]
Posted On 06 May 2010 at 15:05

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





Ankur Garg
Company Secretary and Compliance Officer

[ Scorecard : 82390]
Posted On 06 May 2010 at 15:12

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



Ankur Garg
Company Secretary and Compliance Officer

[ Scorecard : 82390]
Posted On 06 May 2010 at 15:46

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.” 




CS Mayur Buha
Company Secretary

[ Scorecard : 238]
Posted On 07 May 2010 at 10:22

Form 25c will not required to file?




CS Ankur Srivastava
Company Secretary & Compliance Officer

[ Scorecard : 14560]
Posted On 07 May 2010 at 12:52

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.




MOHIT SALUJA
PRACTICING CS Jalandhar 9914558709

[ Scorecard : 1186]
Posted On 25 May 2010 at 17:08

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




Ankur Garg
Company Secretary and Compliance Officer

[ Scorecard : 82390]
Posted On 25 May 2010 at 17:16

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



CS YUTI
COMPANY SECRETARY & COMPLIANCE OFFICER

[ Scorecard : 43]
Posted On 22 February 2012 at 13:57

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




Neha Jain
Company Secretary

[ Scorecard : 7237]
Posted On 22 February 2012 at 19:17

Dear Yuti,

 

You can change ANY WAY as per your convenience.

 

 

Thanks



There are 17 Replies to this message








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