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Managing Director Vs Whole Time Director

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(Querist)
01 April 2011 During the incorporation of the company, the key person was appointed through Form 32 as Whole Time Director. Now the person wants his designation to be MD & CEO of the company.

Should the company file Form 32 for change of designation and should they go through all the processess applicable for a Managing Director.

Please advice
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
01 April 2011 YES. You have to file form 25C within 90 days of appointment
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
04 April 2011 If it's a public limited company, yes. You need to file Form 32 for change of designation and also file form 23 and 25C.

However the provisions of Section 269 with regard to appointment of Managing or Whole Time Director are not applicable to private companies. Strictly speaking filing of Form 32 may not be required, however to get the correct designation noted in ROC records it is advisable to file Form 32.

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