Change in Desg from WTD to MD

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Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2011 Dear All

Mine is Public Ltd. Co. i want to change the desg of WTD to MD on the same terms & conditions, but want to change the period of appt ie effective from 01-01-2011 to 31-12-2016.

Please provide me the procedure for the same with the draft BR & SR.

Jayashree S Iyer

Jayashree S Iyer (Expert)

04 February 2011 As per Section 317 of Companies Act, 1956, MD can be appointed for a term of 5 years only. So you can appoint him till 31.12.2015 only.

The procedure for changing the designation from WTD to MD.

1) Hold a BM and pass a resolution for change in designation.
2) Hold a GM and get the same approved by members.
3) Remuneration part, if there is no change no need for SR. If there is a change and the remuneration is as per Schedule XIII, pass an OR or SR depending on the amount of remuneration.If the remuneration is not as per Schedule XIII, apply to CG in Form 25A.
4) File Form 23 (as per Section 192(4)(c))
5) File form 25C (as per Section 269(2))
6) File form 32 (for Change in desigation)

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2011 Thanks Sir

Can u provide me wit the Resolutions

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