Dear Members,
During the incorporation stage, Mr. XYZ and Mr. ABC were made first directors of the company for which Form 32 was filed with Registrar of Companies (RoC) along with Form 1A, Form 18 etc. as per the practice. The Articles of Association which was filed and registered with RoC had an inbuilt clause stating that Mr. XYZ will be the permanent Managing Director of the Company.
Now, since appointment of Mr. XYZ as permanent Managing Director of the Company was already incorporated in the Article, whether we need to register resolution of appointment of Mr. XYZ as Managing Director under Section 192 sub-section (1) read with sub-section 4(c) made in the first board meeting of the Directors held after 10 days of incorporation.
Please suggest the remedy.
Thanks and Regards,
Haresh Achantani
CAclubindia
