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Appointment of md in a private company

Swamy (Promoter) (26 Points)

22 March 2012

Hi all,

I have registered a private company and one of the director in this company.

Along with me two other employees are the part of the project team and will be getting monthly salary.

My question is,

1. What is the procedure to follow to appoint as Managing Director of the company.

2. Do I need to inform ROC / file forms for the appointment of MD? If so what's the time period allowed to file.

Thanks in advance,

Swamy

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4 Replies

Sonam Bidasaria (CA) (770 Points)
Replied 22 March 2012

Pass a Board resolution and prepare an agreement for terms and conditions of appointment of Managing Director. After passing resolution, Form 23 shall be filed within 30 days from the date of passing resolution and Form 32 should be filed within 30days from the date of appointment.

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Swamy (Promoter) (26 Points)
Replied 23 March 2012

Originally posted by : Swamy
	Hi all, I have registered a private company and one of the director in this company. Along with me two other employees are the part of the project team and will be getting monthly salary. My question is, 1. What is the procedure to follow to appoint as Managing Director of the company. 2. Do I need to inform ROC / file forms for the appointment of MD? If so what's the time period allowed to file. Thanks in advance, Swamy

Hi,

Thanks for your reply. Sorry to keep posting.

In order to pay monthly salary whether one of the director needs to be a Managing Director or salary can be paid to director (instead of appointing him as a MD).

In simple, I am the director of the company, in order to get salary, do I need to be appointed as a MD or I can be in the same post of director and get the salary.

What is the difference between Director and MD in terms of salary paid to them.

Regards,

Swamy