appointment of managing director

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Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2010 hi friends

pls answer the following query;;;;;

the paid up capital of our public company touched the limit of 5 crores...

now pl tell me, according to section 269 of the companies act, 1956, In how much time we have to appoint managing director...is there any time limit like 6 months or something else...or we have to appoint immediately..

and also tell me that in how much time we have to appoint the company secretary....

Ankur Garg

Ankur Garg (Expert)

29 September 2010 For both the appointments there is no time limit fixed by law. However now both the sections are fully applicable on you.

So i would advise you to appoint MD and CS as early as possible within the reasonable time.

Being not a big issue from ROC's perspective it would be very difficult for you to explain the undue delay in appointment.

Regards

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Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2010 but sir there is a Proviso in Sub-rule (4) of Rule 2 of CS Appointment Rules which says that cs should be appointed with in 6 months......

pl explain....

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