Additional Director term

vidya burman (student) (15 Points)

27 May 2021

If an additional director is appointed his term was upto date of AGM or last date on which AGM ought to be held. suppose if last date to hold agm was 31/8/21 but agm was adjourned then what will be the term of additional director. Will he hold office after 31/8/21 or till adjourned AGM?

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5 Replies

CMA Poornima Madhava (CMA) (13097 Points)
Replied 27 May 2021

I think the date of vacation in this case would be 31st Aug

CA. Sourav Sarkar (Chartered Accountant ) (24573 Points)
Replied 27 May 2021

If AGM was adjourned then additional director can act for the last date of the adjourned AGM

i am Kashif (372 Points)
Replied 28 May 2021

Agreed

CA. Sourav Sarkar (Chartered Accountant ) (24573 Points)
Replied 30 May 2021

Thank you

Neel Parikh (105 Points)
Replied 05 June 2021

Whenever AGM is adjourned, they date of Adjourned meeting will be considered. (except for those resolutions which have already been passed in original AGM Day)

90% case of adjournment is lack of quorum. In this case, all computing compliance will be upto Adjourned AGM date.

Eg :-
Additional Director (as raised in this question)
15 Months Gap calculation from AGM to AGM
5 Years Auditor Appointment Calculation

Infact, even minutes for this AGM will be 2 different. One showing original date & stating all resolutions (if any passed) & in the end a statement that AGM is adjourned.

2nd Minutes will be of Adjourned AGM.