Managing director

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Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2012 A Consultancy firm has appointed a additinal Director as MD of the Comany and filled only Form 32 .At AGM They forgot to regularise his appointment. now as per provision of Sec 260 he has vancanted office on AGM .
IS He considered as MD ????? because he is no more director as per Sec-260.
now i require his appoinment continue what is the procedure do i adopt for this??????
repply urgent

Ajay Mishra

Ajay Mishra (Expert)
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16 October 2012 Hi

If a person while he was the additional director of a company had been appointed as the managing or whole-time director, the later appointment also ceases simultaneously with the cessation of his directorship at the commencement of the annual general meeting. However, if such a person is re-elected as full-fledged director at the annual general meeting and thereby he continues as a director of the company, he shall continue as a managing or whole-time director also for the period for which he is so elected by the annual general meeting.

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Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2012 Hello Thanks for quick Reply!

ya I know this, i want to know the procedure by which he continue considered as a MD of the company from Oct2011 till yet. I cant hold GM in Bak date as its holding comany is listed in foreign they require to give intimation before a month. we can pay penelty but wants anyhow to be him on directorship position........

Ajay Mishra

Ajay Mishra (Expert)
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16 October 2012 The additional director will automatically vacant the office on AGM until he regularise. So you can not continue him ad MD after AGM.

I will suggest you to again appoint him as on date of AGM as additional director after AGM on Board Meeting.

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Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2012 Thanks Sir . in that case should i require to file Eform 25C , 32, 23 for appoinment of MD or only require to have form 32 for aditional director.I m working in private limited company .

Ajay Mishra

Ajay Mishra (Expert)
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16 October 2012 Hi

Yes, firstly you will file Form-32 for resignation of additional director. after that you will again file form-32 for appointment of additional director,Form-23 for registration of resolution and lastly Form-25C for appointment of MD.

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