section 269 appointment of whole time director
This query is : Resolved
18 June 2009
Query: ABC SEZ limited a company incorporated with the authorized capital of Rs. 50 crore and paid up capital is Rs.35 crore and the company is appointing the whole time director and the reumeration of the whole time director is Rs. 232000/- p.m. What is the procedure to appoint the whole time director and is it neccesaary to take the approval of central government? please note that the company is incorporated with the word SEZ
Ankur Garg
(Expert)
18 June 2009
As per section-269 u have 2 options--
1. Appoint him with the approval of CG
2. Appoint him by following the provisions of Schedule XIII.
So it is not compulsory to obtain CG approval if u adopt II option.
Regards
1. Appoint him with the approval of CG
2. Appoint him by following the provisions of Schedule XIII.
So it is not compulsory to obtain CG approval if u adopt II option.
Regards
20 June 2009
thanks for anticipation. But in Schedule XIII there are some exemptions regarding the SEZ. In this case it is not mandatory to get the approval from Central Government.
Regards
Regards
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