Check list and Procedure for Appointment of WTD

·         Board meeting is to be convened for passing a resolution under section 269 for WTD appointment and deciding the term of the WTD/MD and remuneration (whether monthly or Net profit sharing basis).

·         Prior Approval of Financial institution taken to appoint the WTD, if required (ie if the Company has defaulted under 58A etc).

·         Copy of resolution filed to ROC within 30days after passing resolution.

·         If the appointment is in conformity with Sch XIII a return in FORM 25 C filed within 90days of date of appointment

·         If not in conformity then with the prior approval of Central Government