Appointment of md in pvt ltd
This query is : Resolved
Preety Gupta
(Querist)
16 August 2013
Can the learned members, kindly resolve the following queries of mine:-
As section 269, 310 to 312 and 317 of the Companies Act, 1956 does not apply to an independent private limited company; appointment of managing director can be made by passing a resolution in the board meeting of the Company also. In this regard, I have a few queries:
What is the age limit for appointment of a person as a managing director?
Is Special resolution required if the appointee is above 18 but below the minimum age for appointment as MD??
Is filing of e-form 25C compulsory for appointment of MD in Pvt Ltd as section 309, 310 & 311 is not applicable to a pvt ltd and it is free from restrictions on payment of remuneration to the directors or increase in their remuneration?
As section 269, 310 to 312 and 317 of the Companies Act, 1956 does not apply to an independent private limited company; appointment of managing director can be made by passing a resolution in the board meeting of the Company also. In this regard, I have a few queries:
What is the age limit for appointment of a person as a managing director?
Is Special resolution required if the appointee is above 18 but below the minimum age for appointment as MD??
Is filing of e-form 25C compulsory for appointment of MD in Pvt Ltd as section 309, 310 & 311 is not applicable to a pvt ltd and it is free from restrictions on payment of remuneration to the directors or increase in their remuneration?
Ajay Mishra
(Expert)
16 August 2013
Hi
The provisions of section 269, 309, 310 and 311 are not applicable for private limited company.
You only file Form-32 with ROC for change in position of the director of the company.
No need to pass any shareholders resolution. You just pass a Board Resolution for this.
The provisions of section 269, 309, 310 and 311 are not applicable for private limited company.
You only file Form-32 with ROC for change in position of the director of the company.
No need to pass any shareholders resolution. You just pass a Board Resolution for this.
Preety Gupta
(Querist)
16 August 2013
Thank you for your guidance.
what about the minimum age limit for appointment as Managing Director as somewhere I read it to be 25 years and in case the appointee is below such age, the company needs to pass SR in GM.
But no such age limit did I find in the definition of Managing Director as per section 2 of the Companies Act or elsewhere.
what about the minimum age limit for appointment as Managing Director as somewhere I read it to be 25 years and in case the appointee is below such age, the company needs to pass SR in GM.
But no such age limit did I find in the definition of Managing Director as per section 2 of the Companies Act or elsewhere.
Ajay Mishra
(Expert)
16 August 2013
Please read Instruction kit of Form-32, if it restrict, then you can not appoint other wise you can appoint such director as MD.
Preety Gupta
(Querist)
16 August 2013
e-form 32 help does not speak about the same.
Ajay Mishra
(Expert)
16 August 2013
Then you can appoint as MD.
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