Applicability of section 160(1) to private company

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ARTHI (Querist)
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09 August 2014 Dear Experts,

Please reply to the following queries:

A Private Limited Company has held AGM belatedly on 30/06/14 for FY 2012-13 (and BM on 17/06/14).

Company has two Directors (Husband-Wife) and they are the Shareholders.

Q1: I need to regularize the Additional Director in the AGM. Whether Section 160(1) shall apply to the private company. (Note: Under CA 1956, Section 257 was not applicable to private company).

Please reply…………………..

Q2: Whether I need to attach Explanatory Statement for regularizing the Additional Director in the AGM.

Please reply…………………..

Q3: If both the Directors are interested in the resolution for regularizing the Additional Director in the AGM, how do I proceed with the situation.

Please reply…………………..

Q4. Whether retirement of directors by rotation shall apply to the private company.

Please reply…………………..

Thanks.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 August 2014 Q1: I need to regularize the Additional Director in the AGM. Whether Section 160(1) shall apply to the private company. (Note: Under CA 1956, Section 257 was not applicable to private company).

reply -- Yes

Q2: Whether I need to attach Explanatory Statement for regularizing the Additional Director in the AGM.

reply - Yes

Q3: If both the Directors are interested in the resolution for regularizing the Additional Director in the AGM, how do I proceed with the situation.

reply - Can convene the AGM because interested directors can participate and vote in AGM since there is no section corresponding to section 300 in 2013 act.

Q4. Whether retirement of directors by rotation shall apply to the private company.

reply - No ,because there is no section corresponding to section 255 in 2013 act.

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