Reappointment of a director

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Naresh Jain (Querist)
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25 February 2010 What is the procedure to reappoint a MD of a company when his term is expiring on 10 january,2010 but the company has made the default in repayment of loan and interest for more than 60 days continuously on 31.03.09.

Ankur Garg

Ankur Garg (Expert)
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25 February 2010 You may re-appoint MD by passing a board resolution in a private company. You have to file form 32 with in 30 days of re-appointment.

In case of public company the re-appointment is governed by section 269. You have to decide whether to go for CG approval or follow schedule XIII.

In case of a public company re-appointment is equal to appointment. (Explanation to section 269).

Regards

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