Menu
Section 160 read with 162
Can Board of Directors appoint more than 2 additional directors by a single resolution? Would it be a violation of section 162?
Replies (3)
Quick Summary
Appointment of more than 2 directors via SINGLE RESOLUTION is NOT allowed unless comply with Sec 162 .
In your case , YES SEC 162 VIOLATED
Important Note Added : Sec 162 is not applicable to PRIVATE COMPANIES who has not defaulted in filing Financial Statements and Annual Report .
As per Sec 162(1) of Companies act 2013, the appointment of two or more person as a director by single resolution is not permissible.
However the same subsection says a proposal to move a motion for the appointment of two or more person as directors by a single resolution has first agreed at the meeting without any vote cast against it.
It means before appointing two or more persons as director by single resolution, the meeting first agreed upon the appointment by single resolution with 100% vote.
However the same subsection says a proposal to move a motion for the appointment of two or more person as directors by a single resolution has first agreed at the meeting without any vote cast against it.
It means before appointing two or more persons as director by single resolution, the meeting first agreed upon the appointment by single resolution with 100% vote.
Recent Topics :
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
- TDS on dividend to non resident shareholders
- Best CA Inter classes in Laxmi Nagar for Group 1?
- Gst refund
- Compliance under Society Act 1860
- Hi experts need help
Related Topics :
CAclubindia
