RE-APPOINTMENT OF M.D
This query is : Resolved
07 April 2010
Dear der
my query is regarding if a resolution for re-appointment of M.D can have retrospective effect. ex., the tenure of M.D expires on 31.03.2010. can a resolution for his re-appointment be passed in a Board meeting on 05.04.2010 with retrospective effect from 01.04.2010.
my query is regarding if a resolution for re-appointment of M.D can have retrospective effect. ex., the tenure of M.D expires on 31.03.2010. can a resolution for his re-appointment be passed in a Board meeting on 05.04.2010 with retrospective effect from 01.04.2010.
07 April 2010
On expiry of tenure of MD he vacates his position as MD with immediate effect.Thus, act done by such director as MD will not be vaild.
Reappointing him in Board Meeting after the expiring of term will mean rectification of error.
Hence it is advisable to appoint in Board Meeting prior to 31.03.10, if possible. Otherwise you can appoint him on 05.04.10.
Reappointing him in Board Meeting after the expiring of term will mean rectification of error.
Hence it is advisable to appoint in Board Meeting prior to 31.03.10, if possible. Otherwise you can appoint him on 05.04.10.
07 April 2010
AGREE WITH EXPERT
07 April 2010
you mean to he cannot be re-appointed retrospectively
07 April 2010
Cannot be appointed or re-appointed with retrospective effect.
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