Re-appointment of a joint managing director [Resolved]

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ramandeep kaur (Querist)
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18 July 2013 A whole time director who was appointed as the the joint managing director of the company from August,2010 to August,2013 for a period of three years with a remuneration scale of 50,000 p.m to 1,00,000 p.m with authority to the board to fix his salary within the above mentioned scale from time to time with annual increment on merit basis with perquisites and allowances will be given in addition to above.

Now we want to re-appoint him as a joint managing Director for a further period of 3 years with a basic salary of Rs.86,900 p.m with increment as may be determined by the board of Directors from time to time not exceeding Rs,1,50,000.Perquisites and allowances will be given in addition to above

please guide me regarding the following. for what term period can he be re-appointed and please provide us the draft resolution for the purpose and what all approval and forms are required to be filed?

Ajay Mishra

Ajay Mishra (Expert)
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18 July 2013 Please confirm, he is WTD or joint MD.

ramandeep kaur

ramandeep kaur (Querist)
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18 July 2013 INITIALLY HE WAS WTD WHICH WAS APPOINTED AS JOINT MD W.E.F 5TH AUGUST,2010 TO 4TH AUGUST,2013.

NOW WE WANT TO RE-APPOINT HIM AS JOINT MD FOR TERM OF 3 YEARS IN ENSUING AGM.CAN WE DO SO?

Ajay Mishra

Ajay Mishra (Expert)
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18 July 2013 Joint AGM is not any post for which any documented is required only Board Resolution will be sufficient.

If you are appointing MD/WTD/Manager then you follow the provision of section 269 otherwise not.
For appointing joint MD or Assit MD, no need ti file any documents to anywhere.

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