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Appointment of MD - Procedures ??

This query is : Resolved 

19 March 2009 In case of Public Co., What is the procedures & conditions to be fulfilled for appointing a Director as Managing Direcor.

Can you also brief the Forms to be filed & Resolutions to be passed ??

Please reply...

13 May 2009 In case of public company appointment of MD is governed by section-269.

You can appoint MD with the approval of certral govt. or by following the provisions of Schedule XIII.

By passing Board Resolution you can appoint MD. In that case u have to file form-32 and 25C with ROC.

For more detail plz go through section -269 with Schedule XIII.


23 March 2010 Sir...

In my case, the effective capital is Rs. 32 Crores & the remuneration will be Rs. 10 Lacs p.a.

So as per my understanding, Special resolution or CG Approcal is not required and the procedure to be followed shall be:

Firstly,Form 23(alongwith a copy of Board Resolution + Draft Agreement) and Form 32(alongwith Consent)

Then, Form 23 (alongwith Ordinary Resolution passed in GM) and Form 25C (alongwith copy of Final Agreement)

Please comment if I have missed out anything.

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