Additional Director Cum MD

This query is : Resolved

CS Richa Sharma (Querist)
Follow

16 September 2010 Can a Company Appoint A person as an Additional Director and MD on same day?and in same meeting?
PLZ reply ASAP.

SANJAY TALATI

SANJAY TALATI (Expert)
Follow

16 September 2010 Yes. In the same meeting the Board can appoint the person as an additional director. After the business of addl. director, the Board should take up the business of appointing that person as MD. However, the approval of the Members in the subsequent GM is to be taken . Also check up whether the the remuneration to be paid to him is whin the limit of Schedule XIII. Further, the addl. director retires at the immediately due AGM. Hence, in the AGM , he should be appointed as a regular director and then only he can contine as MD.

Ankur Garg

Ankur Garg (Expert)
Follow

16 September 2010 Yes. It is 100% possible.

First agenda would be appointment of AD.

Second agenda would be appointment of AD as MD.

But keeping in view DCA clarification do not forget to regularise AD in the next AGM.

Revert if there is any doubt

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

shreesh acharya

Vishal Dave

Vijay Mishra

Dalbir Singh Wadhera

Dhananjay Singh

Subscribe Now

Additional Director Cum MD

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Senior Executive

Accountant

GST CONSULTANT

CA Final

Manager- Finance and Compliance