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Default in regularization of additional director

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Shiva Arunachalam (Querist)

23 July 2014 Dear Sirs/Madam

A Person was appointed as an additional director in Company X in 2008, he was not regularized in that year ensuing AGM and till date he has not been regularized.

But such additional director has signed in all statements of Company post 2008.

What is the effect as of now under the Act and what is to be done !!! Kindly advise.

Ankur Garg

Ankur Garg (Expert)

23 July 2014 Technically he is no more a director in the Company as Additional director works only till the conclusion of the next AGM. In next AGM such additional director needs to be regularized.

However you can file formDIR.12 with late fees as effective date of regularization will be the AGM 2008. However rest is dependent on the fact that whether you have filed Annual return or not. It is better to get in contact with a professional firm.

Thanks

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