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Appointment of Whole Time Director

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(Querist)
07 December 2010 whether special resolution is required for appointment of MD/ WTD. (Jst for appointment no terms of remuneration was decided)
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Ajay Mishra

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Ajay Mishra (Expert)
07 December 2010 Hi

Yes Special Resolution will be passed if WTD is appointed as per schedule XIII of the Companies Act. Read Part III of Schedule XIII of the Companies Act, 1956.


Regards
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
07 December 2010 If only appointment and no terms of remuneration then ordinary resolution is sufficient. No special resolution is required.
Part III of Schedule XIII only says that the appointment shall be subject to "resolution of the shareholders in general meeting"
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Ankur Garg

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Ankur Garg (Expert)
07 December 2010 A simple board resolution is enough for appointment.

Rgds
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udit sharma

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udit sharma (Expert)
07 December 2010 Hi..

Agreed with expert Jayshree.... an Ordinary resolution would be suffice
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