Dear Team,
Section 152 of the Companies Act 2013, details out the appointment of directors, but does not mention any age requirement for the same. Whereas Section 196 details that for Appointment of managing director, whole-time director or manager
(3) No company shall appoint or continue the employment of any person as managing director, whole-time director or manager who —
(a) is below the age of twenty-one years or has attained the age of seventy years
Provided that appointment of a person who has attained the age of seventy years may be made by passing a special resolution in which case the explanatory statement annexed to the notice for such motion shall indicate the justification for appointing such person
WE HAVE A DIRECTOR ABOVE AGE 70 BUT HE IS NOT DESIGNATED AS MANAGING OR WHOLE-TIME DIRECTOR.
Given this situation the Companies Act 2013 is silent on any additional compliance needed for their appointment.
Can anyone please share experiences similar to this one and suggest necessary course of action?
CAclubindia
