Under section 269 the Appointment of Managing Director or Whole time Director or Manager is required in Public Companies only if its paid up share capital exceeds the prescribed limit i.e. 5 Crore.
However, private company may also appoint Managing Director, subject to the provisions of its AOA. For appointment of MD only Board resolution is sufficient in this case.
Dear All,
If a appointee already a director of the Company, in this case a Board Resolution is enough.
Form 32 should be filed with ROC within 30 days from the date of appointment.
Form 23 should be filed with ROC within 30 days ( As per section 192 (4) ( c ) provide that any resolution passed by Board of Directors regarding appointment or reappointment or renewal of appointment of Managing Director).
If a appointee is not a director, first should be appointed him as an additional director then we can follow the aforementioned procedure.
Kindly check with AOA of the Company regarding any additional requirements specified.