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S.260 Additional Directors

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(Querist)
06 February 2010 dear experts,
as per S.260 additional directors can be appointed by the board who shall hold office upto the date of AGM, now, my question is :
1. can the members have rights to extend the term of additional directors till the next AGM,if yes can i have some circulars in support of this.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
06 February 2010 members can appoint him as a director in AGM. So his tennure will be extended.
He will retire by rotation as per rules.
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Ankur Garg

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Ankur Garg (Expert)
06 February 2010 I think u r talking about extension of term next to next AGM. If u don't want to regularise him and continue his additional directorship status then you have to do the following things:

1. File form 32 for vacation an on agm date.

2. Again appoint him as AD and file form 32 for appointment.

On the contrary if u regularise him in the AGM then his status would be a regular dir. and u have to file one form 32 for change in status from AD to regular dir.
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Rasesh

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Rasesh (Expert)
06 February 2010 Agree with expert.
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