LIVE GST Certification Course by CA Arun Chhajer. Register Now!!

Appointment of employee as ED

CS Snehal (Compliance Manager) (346 Points)

17 April 2010

Dear All,

Please inform me the procedure or formalities that have to be completed when an employee is appointed as an Executive Director of the Company.

Please reply urgently.

Rgds

Snehal

Reply
Follow
Share

6 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 17 April 2010

Are you talking about a public company?

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 17 April 2010

Presuming that you are talking about a public company ---- when you appoint an employee as ED provisions of explanation of section 269 would become applicable and such employee should be treated as WTD and you have to comply with provisions of section 269 in toto.

CS Snehal (Compliance Manager) (346 Points)
Replied 17 April 2010

Dear Ankur,

Public, Listed Company. Any highlighting points o point sto be taken care off.

Regards,
Snehal.

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 17 April 2010

What about my second reply? Have you observed the same?

CS Snehal (Compliance Manager) (346 Points)
Replied 17 April 2010

Yes I did read that. Thanks.

Vishal (business) (78 Points)
Replied 23 April 2010

Dear Ankur Would like to know if the procedure and formalities when the employee is to be appointed as an Independent Director for a foreign director in a Private Limited Co. and does the employees remuneration will come under Managerial Remunartaion for Accounting purpose. Also kindly provide draft resolution for appointment of Indepenent director mentioning that he will be re- appointed automatically when the foreign deirector leaves India. Do we have to file Form 32 every time for his re-appointment when foreign director leaves India and other formalities in this regard thanks and regards Vishal