Managing director

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abhilasha jain (Querist)
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17 December 2012 If a Public company intends not to reappoint a person as Managing Director/ Whole Time Director after the expiry of 5 years tenure, What is the procedure of it.

and what to be done if 5 years tenure completed on 2007 and no procedures(like filing 25C) followed for reappointment or non reappointment and MCA is showing the designation MD or Whole time Director till date.

Ajay Mishra

Ajay Mishra (Expert)
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18 December 2012 Hi

If you are not intended to continue for further period of MD or WTC, then you will pass a board resolution for change in designation for the above director by filing Form-32.

If you existing MD or WTD tenure are expired earlier then you can not rectified today. On other hand, you can not appoint any MD/WTD retrospectively.

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