Form 25C in case of Pvt Co...
This query is : Resolved
04 June 2011
1. Whether in case of Pvt Co, Form 25C(Appoint of New MD) is not mandatory???
2.In Pvt Co, CAN MD be appoint(By BOD & As per Provision of AoA) by only filed Form 32 and 23??
3.Or Only Form 32 is sufficient for Appoint of MD??
2.In Pvt Co, CAN MD be appoint(By BOD & As per Provision of AoA) by only filed Form 32 and 23??
3.Or Only Form 32 is sufficient for Appoint of MD??
06 June 2011
A MD is generally appointed by the company's BOD which is generally authorised by the articles..In NELSON V JAMES NELSON SONS it was decided that unless there is power given to BOD by article to apoint MD, it is not competent for them to make appointment.....however sec 2(26) expreselly authorise BOD without requiring provision in articles. If the article vest the power in the shareholder the appointment must be made by shareholder..
Sumat Singhal
Sumat Singhal
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