can a MD of Listed company be appointed from Back date

[nihita jayanthi naga]

Dear All,

 

can a listed public company appoint its MD from a backdate. the appointment is made from 1st April 2012 and the BOD ratified the appointmen in its forth coming meeting in the month May 2012.

 

can this be done.

 

Early response solicited,

 

Regards

Nihita

[CS Ankit Misra]

Ms. Nihita,

A managing director may be appointed by a resolution passed by its BODs of a company or by an ordinary resolution passed by the company in general meeting. However, if the appointment is made by a resolution passed by the BODs of a company, his appointment and remuneration shall be subject to approval by a resolution of the shareholders in general meeting. [Para 1 of part III of schedule XIII to the companies act, 1956].

Nihita

--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
 
Find eNewsletters of ICSI Mysore at: www.icsi.edu/NewsEvents/enewsletters/tabid/1757/Default.aspx

--
thanks & regards,     

Ankit Misra

Mob.No. 8009968692

 Please do not print this email unless absolutely necessary

[Astarag]

not possible to appoint from back date 

With 

Cs. P.A. Patnaik

[manu batra]

if MD is appointed by Board of directors, then we can appoint him from back date. When we can write in consent that he is holding office w.e.f so and so date. and while filling Form-32, we can mention there,  back-date as date of appointment.

whether appointment will be subject to CG approval or not?

If yes, then cannot be appointed from back date.

Kindly correct me if i am wrong.

Regards
Manu Batra