Appointment of Managing Director

[Pooja Agnihotri]

Is it required for a person to be appointed as Additional Director before being appointed as Managing Director? Can he be appointed as Managing Director directly? It is required for him to a Director or Additional Director before being Managing Director?

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Regards!!!!

 

Pooja Agnihotri

[CS Simranjeet Singh]

Yes, A person is required to be director of a company before being appointed as MD.. direct MD appoinmtment can't be done..

 

 

Regards,

Simranjeet Singh

Associate Company Secretary

"To know, is to know that you know nothing. that is the meaning of true knowledge."

 

   

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[Pooja Agnihotri]

thank you 

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Regards!!!!

 

Pooja Agnihotri

[Pooja Agnihotri]

if a Company has to appoint MD who was earlier CFO in the same company.

the AGM is already conducted. Now if the Company appoints him as AD he will be regularised in the Next AGM 

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Regards!!!!

 

Pooja Agnihotri

[CS Simranjeet Singh]

regularisation can be done in EGM also.. then file DIR-12..

[Pooja Agnihotri]

EGM is only the way out 

[Pooja Agnihotri]

its a listed company the company is looking for any other way out other than EGM. but it seems EGM to be the  way out.

Thanks again

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Regards!!!!

 

Pooja Agnihotri

[CS Ankit Misra]

Dear Pooja,

As already explained to you earlier, a person can directly be appointed as MD at general meeting after following the procedure given in sec 197 read with schedule V. There is no need for him to be additional directly. However, Notice calling General Meeting should contain a special resolution in this regard. 

However, in your case, as the agm is already done and it is a listed company, you can normalize the transaction by appointing him as Additional Director and designate him as Managing Director and confirm his appointment at the ensuing AGM. I am enclosing herewith extract of our CSP module for your reference.

regards,

ANKIT MISRA

COMPANY SECRETARY

KANPUR

8009968692

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