Managing director appointment

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joginder (Querist)
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25 February 2010 hello friends,

I want to know whether a rotational director may be managing director. A company in AGM pass following resolution for appointment of its managing director kindly suggest whether it is sufficient or not

"Resolved that sh. x, who was retires by rotation be and being eligible for reappointment, offers himself for reappointment, be and is hereby reappointed as director of the company and be liable to be retired by rotation."

IF IT IS NOT RIGHT SUGGEST DRAFTING LANGUAGE HOW CAN I DRAFT IT.

Whether I have to file form no. 32.25C & 23 in case of rotational director reappointment also whenever he/she is a managing director.

Ankur Garg

Ankur Garg (Expert)
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25 February 2010 It is not advisable to keep MD as a rotational director.

When you appoint MD you have too file form 32, 23 and 25C as mentioned by you.

When you regularise an additional dir. as a director then you have to file form 32 only.

RESOLVED THAT Mr. Arun Mishra, who was appointed as an Additional Director with effect from December 13, 2008 on the Board of the Company in terms of Section 260 of the Companies Act, 1956 and Article 31 of Article of Association of the Company and who holds office up to the date of this Annual General Meeting, and in respect of whom a notice has been received from a Member in writing, under Section 257 of the Companies Act, 1956, proposing her candidature for the office of a Director, be and is hereby appointed as a Director of the Company liable to retire by rotation.

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