Appointment of md pvt co.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2013 - In my case appointment of a Whole Time Director as MD is taking place.
- The Company is a PVT Company.
- The biggest confusion is that since its a closely held company all the directors are relative and promoter Director. Now, what would be the status of interest disclosure..

Please reply its urgent

Ajay Mishra

Ajay Mishra (Expert)
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25 October 2013 Hi

The provision of section 269 of the Companies Act, 1956 is not applicable to private limited companies. So you are free to appoint as per your articles.

Pass a Board Resolution and file Form 32 for change of position with Form-23.

Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2013 Thanks for your quick reply...please confirm that the following lines in the notice of EGM would be sufficient enough to cover the interested aspect:

Mr. S in personal capacity and Mr . Y and Mr. Z, being relatives, may be deemed to be concerned or interested in the proposed resolution.

I will not have to make any further addition

Ajay Mishra

Ajay Mishra (Expert)
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25 October 2013 The provision of interested director will not apply to private limited company.

You will write this:

None of the Directors, except Mr.S, Mr. Y and Mr Z are concerned or interested in this resolution.

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Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2013 Thanks a lot Ajay Sir for this clear solution.

Ajay Mishra

Ajay Mishra (Expert)
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25 October 2013 My Pleasure...........

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