Conversion of p ltd to ltd - directors terms of app

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Sathyan Avinash (Querist)
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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

Ajay Mishra

Ajay Mishra (Expert)
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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.