Appointment of md as director

For appointment of Managerial Personnel in private company we have to do following things:

1. Require to pass Board Resolution.
2. Require approval of Share Holders in General Meeting.
3. Follow the provisions of Schedule – V of Companies Act, 2013. (If there is any variance to the conditions specified in the schedule, this appointment shall also be subject to the approval of the Central Government. {Sub – section (3)})

Issue Notice for Calling Board Meeting. Notice shall include:

• Terms and conditions of such appointment.
• Remuneration payable to such Managerial Personnel.
• Interest of Directors in such appointment.

b. Documents Require from Appointee:

• Declaration that he is not disqualified to appoint as director. (Secion-152(4).
• Consent that he is willing to appoint as director.(Section-152(5).
• Consent that he is willing to appoint as Managing Director.

c. Pass Resolution in Meeting for appointment of Managerial Personnel.

d. File Form MGT-14 within 30 days of passing of resolution. (Secion-179)

e. File Form DIR-12 within 30 days of passing of resolution.

f. File Form MR-1 within 60 days of passing of resolution. (Section-196).

g. GM; which will help after this appointment, Take Approval of Shareholders by passing of resolution.