Reappointment of md in private company

Pvt ltd 1031 views 4 replies

monas

44 Points Joined January 2014

Dear friends,

A private Company having two Directors(1 MD), MD term expired in March 2015

Co. holds a BM in Jan 2015 for his reappt. for further 2 years.

Requirements :

1. hold BM, file MGT-14 within 30 days

2. Is is mandatory to file MR-1 for Pvt. Company?

3. Hold GM (its in feb 2015) and file MGT-14 again.

4. Co. having only 2 Directors. (( Can resolution for reappt. of MD in Board meeting ( Jan 2015) can be passed with one interested Director(MD) ))?

One more query related to same. Can a single MGT-14 be file for MD reappt.(BM or GM) and Related party transactions?

Regards

Replies (4)

CS Mitesh Mehta

Company Secretary

17139 Points Joined January 2009

In case of appointment of MD by a private company, the company has to file MGT 14 and DIR 12. The form MR 1 need not be filed in this case as the company is not required to appoint KMP under the Act.

monas

44 Points Joined January 2014

Thanks Mr. Mitesh.

As this is a case of reappointment and MD details are already in MCA.

Do we still need to file DIR-12 ??

Filing of Form MR-1 is still doubtful as you are correct that Company is not required to appoint KMP but Company had already appointed him as MD since 2012. Appointment includes reappointment so there is a doubt in filing of MR-1.

Kalpesh Veer

PCS

795 Points Joined July 2012

As DIR-12 file in case of Appointment, Cessation or Change in designation. Reappointment is mere extention so we do not require to file Form DIR-12.

If i am wrong than let me know.