Whole time director pvt co

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Priya (Querist)
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25 March 2013 Please Reply :

A Pvt Company has appointed a WTD and a giving remuneration him. Further, in its resolution to the Board Meeting it has mentioned the term ' subject to the approval of the Share holders"

Now please clarify me that
1) Being Pvt Co if it has mention the approval of shareholder, do it require to hold a genral meeting for it.

2) Further, in both the cases do it require to file 23?

Ajay Mishra

Ajay Mishra (Expert)
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25 March 2013 Hi

In respect of your first query:

Yes, if you have mentioned in BR then you will pass it in Shareholders meeting as and when general meeting hold.

There is no need to call shareholder meeting for that appointment. You have liberty to pass it in any shareholders meeting to be hold after appointment.

In case of your query two:

No, need to file Form-23, because the section 192 is not applicable to appointment of WTD. You only pass a general resolution.

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Priya

Priya (Querist)
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25 March 2013 Thanks a lot for your clarification

Ajay Mishra

Ajay Mishra (Expert)
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25 March 2013 My Pleasure.........

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