First directors

[Jayashree Chandrasekaran]

Dear friends,

What is the tenure of the first directors appointed through the Articles. of a public limited

company ..do they

need to be regularized at the first AGM 

Thanks

C.JAYASHREE

PARTNER

S.GANESH&ASSOCIATES

CHENNAI

98840 17120

[Astarag]

usually the article provides for their tenure

e.g. they ll hold the office up to first AGM

even if the article do not says so

you need to regularise them in the AGM

unless they are appointed as permanent directors

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with regards,

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[Jayashree Chandrasekaran]

Thanks a lot

Jayashree

[Vivek Aggarwal]

Dear Jayashree

The First directors are also liable to retire by rotation like other directors but they are not required to be regularised at the first AGM like Additional Director. However, they need to be reappointed as they retire at the AGM.

Regards
CS Vivek Aggarwal

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From: Jayashree Chandrasekaran <jayak...@gmail.com>
To: csmy...@googlegroups.com; csch...@googlegroups.com
Sent: Thu, 2 December, 2010 12:28:29 PM
Subject: [CSMysore] First directors

[Jayashree Chandrasekaran]

Dear Vivek,

Then your line of thought is we need to take up only retiring by rotation in the first AGM and all of them need not be re-appointed???

Jayashree

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[Narayan S]

Hi

 

The First directors need to be appointed in regularised as Directors as per Section 255 of the Act.

 

Please refer to Section 254 which states that they shall deemed to be directors until the directors are duly appointed in accordance with Section 255. Invariably it will the First Directors who want to be appointed as Directors. Subsequently you should also file Form 32 with ROC.

 

Regards

S.Narayan

Regards
S.Narayan

[Vivek Aggarwal]

Dear Narayan/Jayashree

I think what you both are referring is re-appointment after retiring at the AGM.

Regularisation is for Additional Director whose term expires at the AGM irrespective of the date of appointment or for MD whose appointment is subject to Shareholders approval.

First Directors are not regularised but are re-appointed after they retire at the AGM. So, in my view, it is re-appointment & not regularisation.

Regards
CS Vivek Aggarwal

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From: Narayan S <naraya...@gmail.com>
To: csmy...@googlegroups.com
Sent: Fri, 3 December, 2010 4:53:34 PM
Subject: Re: [CSMysore] First directors

[Astarag]

I think

regularisation is a wrong word in this context its used in verbal communication only

here regularisation and re appointment has the same meaning

I mean to say both Add Direct and first director sholuld be is same footing on agm

32 need to be file
 for change in nature of appointment in both the cases

[yoganand l]

pls go through the attached circular on the subject

regards,

yogan.

On Thu, Dec 2, 2010 at 3:34 PM, nishant bajaj <nishant...@gmail.com> wrote:

The first Director name remain in the article throught the life of the Company, we can't by any means change it and thus the first director need not require / cannot be regularised by members approval (whether annual ot extraa meeting.)

On Thu, Dec 2, 2010 at 3:19 PM, Jayashree Chandrasekaran <jayak...@gmail.com> wrote:

Dear Nishant,

could you pls justify your answer?

Jayashree

On Thu, Dec 2, 2010 at 1:58 PM, nishant bajaj <nishant...@gmail.com> wrote:

No, we need not require to regularized at the first AGM

On Thu, Dec 2, 2010 at 12:28 PM, Jayashree Chandrasekaran <jayak...@gmail.com> wrote:

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C.JAYASHREE

PARTNER

S.GANESH&ASSOCIATES

CHENNAI

98840 17120

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