Forgot to officially reappoint myself as whole time Director for another 5 years - what now?

Co Act 2013 267 views 5 replies

Amish

General

340 Points Joined April 2010

Hello,

I have very small Private Limited company with only two family member as Directors.

I am whole time director.

Due to this pandemic - AGM got delayed and I forgot to reappoint myself as whole-time Director for another 5 years (1-4-2020 to 31-3-2025). i.e. forgot to file MR1 and DIR12

So I just wanted to know that just like AGM extension was granted is there any such extension granted for reappointing whole time director?

I read somewhere that there can be penalty of 1 lakh rupees for this. (That is crazy and also worrying for me)

Is there any easy way out for this genuine oversight?

Its a small company with only two directors (one whole time) - AGM will be just a formality thing. I plan to show AGM on 16/12/2020 (but I can prepone or postpone it if required)

Will there be any issue in MGT7 and AOC4 return filing? Because MCA website may not allow my digital signature in annual forms saying that I am not a director? (untill I file DIR12 and MR1)

Thank you in advance,

Amish

Edit: Clarified that I am whole time director

Replies (5)

pritesh

delhi

720 Points Joined February 2011

There is no need to appoint Director for every 5 years in small company only in case of md and whole time director it's require

Amish

General

340 Points Joined April 2010

Thank you for your reply. But I forgot to clarify that that I am whole time director.

So what can I do now? What is the solution / workaround to this problem?

Please guide. Thank you

pritesh

delhi

720 Points Joined February 2011

That also fine there is no requirement to appoint wholetime director

Amish

General

340 Points Joined April 2010

Thank you Mr. Pritesh.

But just on the message above you said it is required for whole time director but in next message you are saying it is not required.

So now I am confused. So please clarify.

Thank you.