Additional Director term

479 views
User Avatar

student
15 Points Posted on 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?
0 Reply Share Follow
On 27 May 2021 at 13:18 Report
Replies (5)
Quick Summary
This discussion clarifies the term of an additional director when an Annual General Meeting (AGM) is adjourned. Generally, an additional director's term extends until the date of the AGM or the last date on which it ought to have been held. However, if the AGM is adjourned, the director's term is considered to be until the date of the adjourned AGM, not the original date. This applies to various compliance calculations, including the 15-month gap between AGMs and auditor appointments.

User Avatar

CMA
13117 Points Posted on 27 May 2021
I think the date of vacation in this case would be 31st Aug
Reply
On 27 May 2021 at 13:32
User Avatar

Chartered Accountant
24588 Points Posted on 27 May 2021
If AGM was adjourned then additional director can act for the last date of the adjourned AGM
Reply
On 27 May 2021 at 14:29
User Avatar

372 Points Posted on 28 May 2021
Agreed
Reply
On 28 May 2021 at 19:16
User Avatar

Chartered Accountant
24588 Points Posted on 30 May 2021
Thank you
Reply
On 30 May 2021 at 06:12
User Avatar

105 Points Posted on 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.
Reply
On 05 June 2021 at 20:49

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Belated Return where Form 10IEA filed this year to
  2. GST Reconciliation Tool (2A vs Books) - looking fo
  3. TDS ON PF FORM 19 WITHDRAWAL
  4. Can a virtual office in Mumbai be used for company
  5. Eway and e invoicing in condition where 4 party ar
  6. Bank balance in ITR-3
  7. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  8. Tempsens Instruments IPO GMP Allotment Listing dat
  9. Upload Type - Correction. Not showing in TDS filli
  10. Partnership tax audit query

More recent discussions | Post

Related Topics :

Loading