FOR A PRIVATE COMPANY CHANGE OF DESIGNATION FROM WTD TO MD need filing of mGT-14 AS PER SECTION 117 (3) (C) . Should we attach just the board resolution for the same or even the employment agreement between the co and MD?
FOR A PRIVATE COMPANY CHANGE OF DESIGNATION FROM WTD TO MD need filing of mGT-14 AS PER SECTION 117 (3) (C) . Should we attach just the board resolution for the same or even the employment agreement between the co and MD?
Hi Pooja,
For a private company changing the designation from Whole-Time Director (WTD) to Managing Director (MD), filing MGT-14 is required as per Section 117(3)(c) of the Companies Act, 2013.
Mandatory: Attach the Board Resolution approving the change of designation.
Not mandatory: You do NOT need to attach the Employment Agreement (Service Contract) between the company and MD.
Usually, only the Board Resolution and the relevant Form DIR-12 (for filing the change with MCA) are attached/filed.
| Document | Attachment with MGT-14? | Remarks |
|---|---|---|
| Board Resolution | Yes | Mandatory for MGT-14 filing |
| Employment Agreement | No | Keep with company records, not for MCA |
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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