Query reg appt of Whole time dir in unlisted public compan

This query is : Resolved

Guest

Guest (Querist)

25 November 2010 Dear Friends / Experts,

Query

Whether an Unlisted Public company can appoint its whole time company secretary
as Whole time director. If so, should there be any agreement (mandatory) or fixed tenure, etc.

Ans : .................

If the Board approves the appointment as Whole time director, what are all the forms to be filed. (Is it Form 32 and Form 25C)

Ans : .................

As his appointment as whole time director by board, should the designation be filled as 'ADDITIONAL DIRECTOR' in the Form 32 and later regularised in the general meeting.

Ans : .................

Whether Form 23 is applicable for appointment of Whole time director of an Unlisted public company (or is it applicable only to a MD).

Ans : .................

I shall wait for your views.

Thanks.
D.KARTHIKEYAN.

Rasesh

Rasesh (Expert)
Follow

26 November 2010 Ans 1: Yes. Wholetime CS can be appointed as WTD. Agreement not required mandatorily.

Ans 2: Form 32 to be filed as well as Form 25C

Ans 3: Can be appointed as Additional Director by first resolution and as WTD by second resolution. Regularisation at AGM is required.

Ans 4: In my view, Form 23 is required.

udit sharma

udit sharma (Expert)
Follow

26 November 2010 Hi....

Agreed with Expert Rasesh except that Form 23 is not mandatorily required to be filed in case of WTD but as a good practice and to be on a safer side, it is better to file the same:-)

My query is that whether a whole time company secretar who is already devoting his entire time and energy in discharging the functions of a Company would be in a position to effectively discharge the functions of a Whole Time Director as well?????????

God Bless

Udit Sharma

Rasesh

Rasesh (Expert)
Follow

26 November 2010 Legally Yes.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok