Term of a Whole Time Director expired on Sep 30, 2020. But his reappointment was not taken up in the AGM held in December 2020. Now how to reappoint the Whole Time Director whose term has expired?
Kindly help me with a solution in reference to compliance under Companies Act 2013 and SEBI Compliances to Stock Exchanges.
Subject to the provisions of section 196(4) and section 196(5), reappointment of Whole-time Director can be made only at the General Meeting of the Company. Any re-ppointment made with the approval of the shareholders is deemed to be invalid as per the provisions of section 196 of the Companies Act 2013
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