Hi friends,
I am working in a Closely held Pvt. Co. In this Managing Director was appointed in Sep. 2001, for which resolution in AGM was passed and F-32 was filed, should i renew the appointment in this AGM or i can continue, as i don't find any time duration for which MD in a Pvt. Co. can be appointed. moreover there was no agreement specifying the time limit.
What should i do, pls guide me.
regards,
poonam
Please review the minutes Book and see the resolutions passed for appointinment of the managing Director. Normally private limited companies appoints any wholetime director as a Managing Director for a tenure of five years. In your case if period is not specified in resolution there is no need to pass a new resolution and file F-32.
There is no restriction incase of Private Company. Form.23 also to be filed u/s192(4)(c)
| Originally posted by :poonam verma | ||
| " | Hi friends, I am working in a Closely held Pvt. Co. In this Managing Director was appointed in Sep. 2001, for which resolution in AGM was passed and F-32 was filed, should i renew the appointment in this AGM or i can continue, as i don't find any time duration for which MD in a Pvt. Co. can be appointed. moreover there was no agreement specifying the time limit. What should i do, pls guide me. regards, poonam |
" |
to appoint a managing director in a private company u need not to comply the prescribed procedures as it is not applicable on private companies.so the period of five yrs cn b extended.
What are the formalities for appointing an MD for P Ltd with Authorised capital of rupees one lakh and for Rs. five lakhs
1.Pass a Board Resolution.
2. File Form 32 & Form 23 with Roc
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