Appoint of whole time director and md
This query is : Resolved
CS KINJAL SANGANI
(Querist)
25 April 2012
can we appoint a MD & Whole time director again with a revised appointment and revised salary.if he is appointed for a period of five years and after two years if we need to revised it , can it be a possible, if yes pleaase let me know the procedure.
Ajay Mishra
(Expert)
26 April 2012
Hi
In case of MD, if you are appointing him for a period of 5 yrs then you can re appoint for revised person in last year of his tnure(in 5th Year) for further period. There is no restriction in Companies Act for revised appointment.
In case of WTD, you can not appoint him with time restriction the said period will not apply.
In case of remuneration for both,you can revised their remuneration subject to approval of remuneration committee and shareholders.
Regards
In case of MD, if you are appointing him for a period of 5 yrs then you can re appoint for revised person in last year of his tnure(in 5th Year) for further period. There is no restriction in Companies Act for revised appointment.
In case of WTD, you can not appoint him with time restriction the said period will not apply.
In case of remuneration for both,you can revised their remuneration subject to approval of remuneration committee and shareholders.
Regards
CS KINJAL SANGANI
(Querist)
26 April 2012
thanks, You mean to say that no time limit for the whole time directors, ans secodly if are appointing on a revise terms in agm i.e after 2 years then what rae the consequences
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