Managing director

1- Convey Board Meeting and pass resolution in that mentioned the terms & conditions of appointment and remuneration of MD
2- Notice to shareholders to convey GM in that notice mentioned remuneration, tenure & terms and conditions of appointment.
3- In GM pass Ordinary Resolution
4- Before that you need to check whether he/she is not disqualified to become MD along with Schedule V also
5- If he is appointed as per schedule V no need to get Central Government approval otherwise you should get CG approval if appointed not as per schedule V.
6- File form MR-1 within 60 days from passing Ordinary resolution in GM
7- MR-2 for getting approval of CG is appointed not as per schedule V file.
8- If CG or ordinary resolution is not passed for appointment he should vacate his office when company communicate to him otherwise he should be liable to pay 5K per day until he vacate his office.