Regularisation of additional director
This query is : Resolved
ACS Anjali Jain
(Querist)
06 May 2015
IS IT MANDATORY TO REFUND THE DEPOSIT OF RS 1 LAKH TO DIRECTOR AFTER HE GETS REGULARISED AT THE AGM. CAN THE DEPOSIT BE FORFEITED BY THE COMPANY
CS Mitesh Mehta
(Expert)
06 May 2015
Yes
In case the candidate is appointed as director at the general meeting, or he gets more than 25% of valid votes cast, the deposit amount has to be refunded by the company to the concerned person. Otherwise, the deposit is to be forfeited by the company. General Circular No. 38/2O14
In case the candidate is appointed as director at the general meeting, or he gets more than 25% of valid votes cast, the deposit amount has to be refunded by the company to the concerned person. Otherwise, the deposit is to be forfeited by the company. General Circular No. 38/2O14
ACS Anjali Jain
(Querist)
06 May 2015
the circular which you have referred talks in relation section 8 comapny
CS Arvind meena
(Expert)
06 May 2015
Please refer Section 160
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