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Appointment of md

vivek singh (trainee) (25 Points)

01 September 2012

if a person has been appointed as a director at the time of incorporation 2006,but din 3 has been filed wrongly on 01.2008 showing his designation a md instead of a director & he has been signing all the documents lyk bs & pl as a md. no compliance has been made till date for his appointement as md. what are the steps that can be taken to rectify the mistake???????????????

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2 Replies

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 03 September 2012

As such you have filed form 32 as MD and the person has also signed as MD so you have to continue with him as MD upto that period.

However, you may regulate the same:

1. In case you want to continue with him as MD

In case of public company, Decide his remuneration and accordingly, pass Orginary or Special Resolution in case schecule XIII applies or Board Resolution and file form 192, 25C and 23.

In case of private company, nothing is to be done.

2. In case you do not want to continue with him as MD

File form 32 for change in designation and change his designation as Director.

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Aditya Soni (CS Final Student Trainee) (727 Points)
Replied 03 September 2012

Originally posted by : CS Ankur Srivastava
	As such you have filed form 32 as MD and the person has also signed as MD so you have to continue with him as MD upto that period. However, you may regulate the same: 1. In case you want to continue with him as MD In case of public company, Decide his remuneration and accordingly, pass Orginary or Special Resolution in case schecule XIII applies or Board Resolution and file form 192, 25C and 23. In case of private company, nothing is to be done. 2. In case you do not want to continue with him as MD File form 32 for change in designation and change his designation as Director.

Dear Sir,

I would like to rectify yu on the statement mentioned as "Board Resolution and file form 192, 25C and 23" as its not form 192, this is section 192 and then form 25c and form 23.

Regards,

Aditya