section 277 of the CompaniesAct,1956

Save Share

This query is : Resolved

udit sharma (Querist)

04 November 2010 Hi....

Suppose Mr.X is a Director of 15 Companies(excluding the Companies prescribed under section 278 which are not to be taken into consideration for reckoing the limit of 15 companies). Now. Mr. X is appointed as a Director of the Board of ABC Ltd. on 27.04.2010. Pursuant to the provisions of section 277 of the Companies Act, 1956 his appointment in ABC Ltd. will not take effect unless and untill within 15 days of appointment he resigns as Director of any of the previous Companies so as to bring the number of Companies in which he is a Director to 15 .

Now suppose he resigns from one of the Companies on 30.04.2010. If the Company fails/does not file Form 32 for his resignation on MCA21 Portal, Form 32 for his appointment in ABC Ltd can not be uploaded on the MCA Portal. Now, after the expiry of 15 days, his new appointment becomes void.

Now, My question is if the Director has resigned from one of the old Companies and the Company has not filed Form 32 for his resignation, Form 32 for his appointment in ABC Ltd. can not be uploaded on MCA21 Portal. What remedy is available to the Director in such situation????????

CS Nikita Sheth

CS Nikita Sheth (Expert)

04 November 2010 Hi, Udit Sharma,

You can file Form 32 for resignation in any of the old company from back date today.

udit sharma

udit sharma (Querist)

04 November 2010 Hi Nikita

Thanks for ur reply!

But what i am trying to say is .......

Suppose i have appointed Mr. X who is already a Director in 15 Companies including your Company. Now, appointment of Mr.x will not take effect in my Company and I will not be able to upload Form 32 unless and until he resigns as a Director from any ofthe old 15 Companies. Say he has resigned from your Company but you have not filed Form 32 for his resignation. Unless and until you upload Form 32, I will notbe able to Upload Form 32 for his appointment. So what remedy isavailable to Mr. x and my Company?

CS Nikita Sheth

CS Nikita Sheth (Expert)

09 November 2010 Hi,

in my opinion the only remedy is to file form 32 in my company and then after fom 32 for appointment in your company

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now