If an additional director is appointed in july 2011, whether his regularisation is to be done in AGM of 2011 or 2012?
CA.SKR
(CA; CS-Final (One Group); DISA (ICAI); Insolvency Professional)
(442 Points)
Replied 17 October 2012
| Originally posted by : Renu Goel | ||
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If an additional director is appointed in july 2011, whether his regularisation is to be done in AGM of 2011 or 2012? |
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The regularisation of an Additional Director is to be done in the ensuing AGM held after appointment of Addl. Director. If AGM of 2011 is held after July 2011, in that case appoinment is to be regularised in the AGM of 2011 otherwise in AGM of 2012.
Anshu Shrivastava
(company secretary)
(143 Points)
Replied 17 October 2012
The regularisation of director will be done in the agm of 2011.
ACS Deepika Chowdhary
(Company Secretary)
(280 Points)
Replied 18 October 2012
The regularisation of director has to be done in the agm of 2011 but if agm was held earlier to July, 2011 then it can be done in agm of 2012.
Smriti Dhawan
(Company Secretary )
(347 Points)
Replied 18 October 2012
| Originally posted by : Renu Goel | ||
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If an additional director is appointed in july 2011, whether his regularisation is to be done in AGM of 2011 or 2012? |
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Dear Renu
As per Section 260 of Companies Act , Additional Director holds office only up to the date of the next annual general meeting of the company.
If Additional Director was appointed in July 2011 and AGM of 2011 was held after July 2011 then his tenure will expire at conclusion of AGM of 2011 and you have to regularise him.Additional Director's tenure expires at AGM of Company held after Board Meeting at which Additional Director was appointed.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17848 Points)
Replied 18 October 2012
Agree with Ms. Smriti Dhawan...
The appointment of Additional Directo is to be regularised in the next General Meeting.
Manjunatha M K
(Manager - Accounts)
(318 Points)
Replied 18 October 2012
I dont think there is provision like regularizing of "Additional Director"
What I know is "Additional Director" will automatically retire at the ensuing AGM or Due date of AGM whichever is earlier.
So at the AGM he may or may not be appointed as "Director" afresh.
CAUTILITY.in
(Student CA Final )
(35 Points)
Replied 20 October 2012
Dear Manjunatha M K,
Agree that the Additional Director automatically retires at the ensuing AGM. On interpriting the above Discussion in its ture spriit, i believe that all the member are in agrrement with respect to the tenure of the addional director. It is just the word "regularise" that is causing confusion but even that is cleared upon interpreting it as "re-appointment".
Regards,
Hitesh K
cautility.in
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