Resignation by CEO(KMP) and his appointment as additional director- Urgent

[Anjali Dawar]

Dear Members,

Please update what shall be the procedure for resignation of CEO (MR-1 has been filed earlier for appoinment) and his appointment as additional director in the smae company.

Shall i File DIR-12 and change his designation or which form needs to be filed to change his status from CEO to additional director.

Thanks & Regards,

  Anjali Dawar

   ACS, MBA

[kanika sharma]

IN MY OPINIION, YES, ONLY FORM - DIR 12 FOR CHANGING HIS DESIGNATION .

NOW MGT - 14 NOT REQUIRED.

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Thanks & Regards

 

 CS Kanika 

 JJRSIPL

 Gurgaon

[kanika sharma]

BUT REMEMBER THE PROVISION OF SEC - 196(2), NO RE- APPOINMENT SHALL BE MADE EARLIER THAN ONE YEAR BEFORE THE EXPIRY OF HIS TERM.

[jayasri gn]

Hi,

About exemption from filing MGT 14 , could u Please clarify if the same has been notified in the official Gazette?

Thanks

Jayasri

[CS Ravi Popli]

Dear Friends.

As per my interpretation of section 170 (2) Companies Act,2013 read with Rule 18 of  Companies (Appointment and  qualification of Directors)Rules,2014.Company shall file DIR-12 with in 30 days from the date of change particular of his appointment. also MGT-14 shall also file for removal of KMP as per Rule 8 of the(Meeting of Board and its Power)Rules,2014

Further Company may file ONE DIR-12  for cessation or appointment as Additional Director. and MR-1 SHALL NOT BE FILED.

Regard

Ravi Popli

[kanika sharma]

hi Ravi sir,

Congrats !!

yes , you are right for removal of KMP  as per rule 8(2) , FORM - MGT 14 also required. 

Earlier I was considering Rule 8(3) interpretation only , so that mentioned form - MGT 14 not required. 

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[Rajashree Santhanam]

Dear Members,

Rule 8(2) talks about appointment or removal of KMP and not resignation.  Resignation and removal are different and as per my understanding, no need to file MGT 14.

Regards,

CS Rajashree Santhanam

[K S R K PRADEEP KUMAR]

Hi all,

Yes i agree with Rajashree.....no need to file form MGT-14 if it is in case of Resignation as CEO...if the Company is removing the CEO then mgt-14 is required to file.

Removal and resignation are different.Rule 8 (2) is talking about removal only.

Regards,

Pradeep

[kanika sharma]

THANK YOU ALL FOR CLARIFICATION .

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