Appointment of md
This query is : Resolved
09 May 2012
Loan of the company is defaulted and become NPA. Is the bank has any say in the appointment of MD
10 May 2012
Hi
If you are not maid any default in repayment of any of its debt(including public deposit) or debentures or interest payable thereon for a continues period of 30 days in the preceding year before the date of appointment , then you can not appoint him/her as MD unless you made correct such default.
This provision will not apply to private company unless it is subsidiary of public company.
Regards
If you are not maid any default in repayment of any of its debt(including public deposit) or debentures or interest payable thereon for a continues period of 30 days in the preceding year before the date of appointment , then you can not appoint him/her as MD unless you made correct such default.
This provision will not apply to private company unless it is subsidiary of public company.
Regards
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