Conversion of p ltd to ltd - directors terms of app
This query is : Resolved
Sathyan Avinash
(Querist)
16 January 2013
Dear Experts,
Recently a private limited company got itself converted into a public company.
Now last year 2 Managing Directors were appointed and their terms of appointment were entered into a contract of 2 years.
Now one year has gone by and then the Company has got itself converted into a public Company.
Whether the terms of appointment and contract entered between the MD's and the Company get affected ?
Thank you in advance for the earliest response.
With warm regards,
Sathyan Avinash
e-mail id: sathyanavinash@gmail.com
Recently a private limited company got itself converted into a public company.
Now last year 2 Managing Directors were appointed and their terms of appointment were entered into a contract of 2 years.
Now one year has gone by and then the Company has got itself converted into a public Company.
Whether the terms of appointment and contract entered between the MD's and the Company get affected ?
Thank you in advance for the earliest response.
With warm regards,
Sathyan Avinash
e-mail id: sathyanavinash@gmail.com
Ajay Mishra
(Expert)
16 January 2013
Hi
I will suggest you to re appoint both MD for further period as you think fit, before end of tenure of 2 years. The provisions of section 269 become applicable on conversion of private company into public company.
I will suggest you to re appoint both MD for further period as you think fit, before end of tenure of 2 years. The provisions of section 269 become applicable on conversion of private company into public company.
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