IN A PUBLIC COMPANY, THERE WAS A DIRECTOR. LATER ON THAT DIRECTOR WAS CONVERTED INTO MANAGING DIRECTOR. NOW THE TERM OF THAT MANAGING DIRECTOR OF 5 YEARS IS EXPIRED. NOW AFTER THE EXPIRY OF TENURE, WE WANT TO CONVERT THAT MANAGING DIRECTOR into DIRECTOR. THE QUESTION IS WHEATHER THE SAID MANAGING DIRECTOR IS STILL A DIRECTOR IN COMPANY EVEN AFTER EXPIRY OF TENURE OF 5 YEARS OR THERE IS A VACANCY ON BOARD BECAUSE OF EXPIRY OF TENURE. AND FOR THE CHANGE IN DESIGNATION OF THAT DIRECTOR, WHAT WILL BE THE COMPLIANCES SO AS TO SHOW HIM ONLY A DIRECTOR IN COMPANY
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Change in desiganation of managing director
Replies (4)
I think the vacancy will arise for MD and will still be a director of the Co. and his designation can be changed in the BM by filing DIR 12
@ rachana, yes he will be ceassed to exist as a MD of the company after the tenure completion and you can keep him as a ordinary director by filing DIR-12 for appointing him as a director.
Dear Madam,
His position as a Director should not be challenged. However if Company wants to appoint that director then , please refer section 196 of Companies Act 2013 and form shall be as follows,
1. MGT-14
2. DIR-12
3. MR-1
Thanks in Advance.
Dear Madam,
His position as a Director should not be challenged. However if Company wants to appoint that director then , please refer section 196 of Companies Act 2013 and form shall be as follows,
1. MGT-14
2. DIR-12
3. MR-1
Thanks in Advance.
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