Roc

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 July 2013 Is ROC Required to be intimated when present director is appointed as Joint Managing Director in private company. If yes,What is the procedure for it?
Is Board Resolution also required for it?

Ajay Mishra

Ajay Mishra (Expert)
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02 July 2013 No need to file any forms with ROC. In ROC terms joint Managing Director is not any post.

The Act does not recognise a "joint managing director". The designation would be misleading if the incumbent is not a director. However, if the person concerned is in fact not a director and is not occupying the position of a managing director, manager or holding other managerial office, his remuneration would be outside the scope of section 198.

Only Board Resolution will be sufficient for this.

Querist : Anonymous

Querist : Anonymous (Querist)

03 July 2013 And for Deputy Managing Director?

Board Resolution can be passed in normal Board meetings or AGM needs to be conducted for appointment of director as Joint Managing Director and Deputy Managing Director?

Ajay Mishra

Ajay Mishra (Expert)
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03 July 2013 When u appoint MD/Manage/WTD/Director then General Meeting resolution is required otherwise Board Resolution is sufficient.

Querist : Anonymous

Querist : Anonymous (Querist)

03 July 2013 Thanks.
This means in the above case normal Board Resolution is sufficient.

Ajay Mishra

Ajay Mishra (Expert)
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03 July 2013 yes, Board Resolution is sufficient.

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