Apointment of Managing Director

Dear Deepanshu,

Even an Additional Director can be appointed as MD but since an Additional director can hold office only upto tha date of AGM it is neccssary to regularise him first and if he fails to get elected as a Director than he will also cease to hold the office of a MD....So the right way to go is to regularise the additional director first and than go for the Consent of the members for appointment as MD..

Regards

ACS Vaibhav

First appoint any one as Director / WTD in Board Meeting or General meeting directly and then appoint him as MD no problem.

Requirements:-

Remuneration to be approved by Remuneration committee and part I and II of schedule XIII is to be complied with.

If you appoint anyone as Additional director then you should regularise him first them appoint him as MD.

There is 2 option for appointment of MD:

1. In a Board Meeting first appoint him as Additional Director as well as MD and later in general meeting resularise him.

2. Appoint him directly in EGM as Director & MD so question of regulairsing do not arise.

No need to wait till he is regularised and than appoint him as MD. Also appointment of remmuneration committee is required only when profits of COmpany are inadequate or no profit.

Completely agree with the learned members.You can appoint Mr. X as Additional Director as well as MD on 01.06.2010.

Or if you hav not taken up his appointment as MD in agenda of BM on 01.06.2010, then u can follow the foll. steps:

1- Appoint Mr. X as Add. Dir. on 01.06.2010

2- Appoint him as MD on 22.06.2010 (no need 2 use the word Additional with MD)

3- Regularise him u/s 257 on 30.09.2010 (AGM)

Regards,

Mitali

1- Appoint Mr. X as Add. Dir. on 01.06.2010

2- Appoint him as MD on 22.06.2010 (no need 2 use the word Additional with MD)

3- Regularise him u/s 257 on 30.09.2010 (AGM)

In this case pl chk whether u hav to filled seperate Form 32 for MD or not?

views from members/seniors solicited.

BHAVESH