Additional director

This query is : Resolved

juhi (Querist)
Follow

12 February 2013 we say diector in pvt company cann0t fall below 2 In case there are no director in the company and there 2 additional director is the condition of minimum 2 director fulfiled?

Ankit

Ankit (Expert)
Follow

12 February 2013 Dear Juhi,

yes the criteria will be fulfilled.since an additional director is a regular director only...except that he is not appointed in the AGM, and his appointment will be finalised in the ensuing AGM

Message likes : 1 times

juhi

juhi (Querist)
Follow

12 February 2013 Thank you, r.Got your point sir , we need to do EGM for this only.Even if they continue as additional director the condition will get fulfilled And in AGM additional director can be appointed as regular directo

Ankit

Ankit (Expert)
Follow

12 February 2013 you are welcome....

yes...you are right..the appointment can be regularised in an EGM or AGM..

Message likes : 1 times

Ajay Mishra

Ajay Mishra (Expert)
Follow

12 February 2013 Hi

In Case the director of the company is less than two or the no. of director fix for the quorum, then the remaining director (continuing director or directors) may act for the purpose of increasing the no. of directors to that fixed for the quorum or summoning a general meeting of the company, but no for other purpose.

Please read Regulation 75 of Table A of Schedule I of the Companies Act, 1956.

Ajay Mishra

Ajay Mishra (Expert)
Follow

12 February 2013 So in your case, if only one director, then you can appoint one more director for complying quorum of the meeting of Board as per the above mention clause.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now