Appointment of managing director

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Mehul Raval (Querist)
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22 May 2014 Dear Sir,

I have query about the appointment of Managing Director AS per New Companies Act 2013.If a person is already holding the office of director in the Company and the company is private limited company,he wants to change his designation from Director to MD (with Remuneration).what are the requirements of change in designation from Director to MD in New Companies Act 2013.

CA. Amit G. Chandani

CA. Amit G. Chandani (Expert)
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22 May 2014 1. Appointment by Board Meeting and filing of MGT-14 for appointment within 30 days of filing Board Resolution.
2. Pass ordinary resolution (special resolution if MD has attained age of 70 years) at next general meeting for approval of appointment.
3. Disclosure u/s 189(2) in MBP-1 within 30 days of appointment.
4. Filing of MGT-14 for special resolution, if applicable u/s 196 and for disclosure u/s 189(2) in MBP-1 within 30 days of Board Resolution. (Alternatively, disclosure u/s 184(1) can be taken at time of appointment).
5. File MR-1 within 60 days of appointment.
6. Appointment shall be in accordance with Schedule V, otherwise approval of CG to be taken in MR-2.

Mehul Raval

Mehul Raval (Querist)
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22 May 2014 what about filing of Form-DIR-12 when should I file Form-DIR 12 to change a Designation in View Signatory Details

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CA. Amit G. Chandani

CA. Amit G. Chandani (Expert)
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22 May 2014 DIR-12 also to be filed within 30 days of such change.

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