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Change of management of private company

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(Querist)
30 July 2012 Sir,

There is private Company having two shareholder director holding 60 % and 40 % respectively and they appointed two person as additional director of the company and on the same date sold the company to the said additional director, Sir my query is whether the appointment of said additional director is right,if yes can they regularize themselves in the upcoming AGM.

If not then what should company be suppose to do to comply law.
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Ajay Mishra

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Ajay Mishra (Expert)
30 July 2012 Hi


Yes, they can do so, when they will regularise, they will do in the capacity of member and not as a director. It will be ok, if you follow the same procedure.
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