Hii folks
need ur help
On 16 august ,say Company A is aquired by CO. B , on dis date company appoints 3 additional directors and retires the existing directors. AGM is held on 30 sept so as per co.act 3 additional director retires on that date.(no regularization of additional directors took place in AGM)
I have question how can additional directors be converted into whole time directors After AGM in dis case .... ?
Option I: Board can again appoint same persons as additional directors after AGM to hold office upto next AGM.
Option II: EGM can directly appoint those persons as directors (Ref.Sec.257).
S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
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Abic and Mani Chartered Accountants
Kottayam
B.Com
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CCI
Pro
CAclubindia
