Conversion of additional directors to wtd .

410 views 2 replies

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 .... ?

 

Replies (2)
A member needs to send notice of appointing a person other than retiring director. Extraordinary Gm is to be held for that purpose.

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).

 

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