Term of office

Others 568 views 4 replies

Guest

Hai all....

An additional director is appointed to fill the Casual vacancy by the BOD.

An addtl director holds office till next AGM

A director appointed for casual vacancy holds office till the date the director in whose place he s apptd..

What is the Term of office in the above case.

Replies (4)

Guest

an additional director and a director appointed to fill the casual vacancy are two things which has to be determined from the facts from appointing documents, accordingly his term has to be determined he cannot be additional director being appointed to fill a casual vacancy. if your from 32 and BR states his appointment to be Additional Director his vacation will be before next AGM...................so check your docs.

Randhir

Nitin Singhal

Gaining knowledge...

320 Points Joined September 2009

TERM of OFFICE means the period for which a person can hold the office of director. An Additional Director can hold office only upto the date of next AGM. However, he may be appointed again by Board but in that case also his period will be upto next AGM.

Ankur Garg

Company Secretary and Compliance Officer

114783 Points Joined January 2009

Hi,

Totally agree with Randhir. Initially there was no need to appoint him as additional director.

However if you have appointed the person as additional director u/s 260 and mention the same in appointing resolution and file form-32 accordingly then you have to follow section 260 in totality.

Best Regards