Appointment of director under new ca 2013

Is it mandatory to deposit INR 100000 with the company for appointment of new director in the existing company?

Can somebody please outline the entire process and forms to be filled for the same. Thanks.

Replies (2)

YOU HAVE TO FILE DIR 12 FOR THE APPOINTMENT OF DIRECTOR IN THE EXISTING COMPANY.YOU CAN DOWNLOAD THIS FORM FROM MCA SITE.

Yes

Section 160 provides for right of any person to stand for the position of a director in a company in a general meeting. The provision for deposit of Rs. 1 Lakh has been made prevent misuse  this right by some persons. Section 160, is applicable in cases of appointment of directors other than retiring directors

The company shall inform its members of the candidature of a person for the office of a director or the intention of a member to propose such person as a candidate for that office, at least seven days before the general meeting by serving individual notices to members through e-mail and where no e-mail address is available then in writing and by placing notice of such candidature or intention on the website of the company, if any.

If the company advertises such candidature/intention, not less than 7 days before the meeting at least once in a vernacular newspaper in the principal vernacular language of the registered office’s district and at least once in English language in an English newspaper circulating in that district in which the registered office of the company is situated, then it shall not be required to serve individual notices upon the members as aforesaid.

 

 

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