reappointment of MD

Hi, Gargi,

As per Question the section267,(appointment of MD) applicable on the public company or their subsidiary private company.

If your company is a subsidiary of a public company then you need to follow all the regulations as if you are a PUBLIC LIMITED COMPANY. In such circumstances provisions of Section 198, 269, 309, 310, Schedule XIII will be applicable.

If you are a private limited company then there is no requirement to obtain approval of members for reappointment of MD. The board has powers to do the same. However you need to file Form 23 and Form 32 with ROC within 30 days of such appointment. As a matter of caution please go through the Articles of Association of theCompany and take a decision.

thanx a lot Murlidharan sir, and Praveen for resolving my doubts, please do reply my fresh query on same subject

In my case MD's agreement validity period is already expired before my joining date in March 2008, so is it necessary to reappoint him from same day or fresh reappointment can be done through coming BM ,similarly earlier Compliance officer has not filed form 23 for earlier reappointment so does it makes any difference if I filed form 23 for March 2008(new agreement) without filing earlier form 23 because it was supposed tobe filed in 2006.as we need to pay huge late fees for earlier non -compliance

Thanks to Murlidharan Sir.