Appointment of whole time director
Querist : Anonymous
Yes, you can appoint him without any remuneration. The Companies Act, 1956 does not have any restriction on that.
Procedure for Appointment of WTD Directors.
1. Call a Board Meeting for proposal of appointment of WTD .
2. Hold a Board Meeting for above purpose and call general meeting.
3. File Form-25C within 90 days from the date of appointment and Form-32 for change in Position as WTD.
4. Hold a General Meeting for passing of resolution under section 269 to appointment of WTD.
5. File Form-32, with ROC, of change in position of director attach certified copy of shareholders meeting. (you only mentioned in Form-32 as change in Position and designation will be WTD).
6. Take entry in Minutes.
Querist : Anonymous
Querist : Anonymous
Don't you think the ROC might object on this and may feel that the Company is paying remuneration in kind and may lead to further enquiries on this above matter?
I have already appointed WTD without remuneration from last 6 years. No issue, you same mentioned in Form-25C.
Querist : Anonymous
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