company act

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Khushboo (Querist)
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28 December 2010 Dear Friends,

Kindly guide me in the following situation.

In a company, all the directors have resigned from the board of the company and promoters have also resigned to be considered as promoters of the company. The previous board have appointed additional directors so the company could function. But the situation is that the additional directors wish to ratify their position in the company and they wish to conduct an EGM for their appointment as directors of the company.
Please guide:
whether the position of the additional directors in such a situation can be ratified by convene an EGM?

Jayashree S Iyer

Jayashree S Iyer (Expert)
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29 December 2010 Yes. As per provisions contained in Sedction 255 of the Companies Act, 1956, additional Directors can be regularised in the EGM.

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udit sharma

udit sharma (Expert)
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29 December 2010 Hi..

Agreed with Expert!

As per section 260 of the Companies Act, 1956 Additional Directors hold the office till the next AGM of the Company.

You can regularize the Additional Directors before the AGM by convening an EGM of the Company.

Regards

CS Udit Sharma

Ajay Mishra

Ajay Mishra (Expert)
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29 December 2010 Agree with experts..

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